The Coca-Cola Company (NYSE:KO) Stock Position Boosted by Quest Partners LLC

Quest Partners LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 87.4% in the third quarter, HoldingsChannel.com reports. The firm owned 60,799 shares of the company’s stock after acquiring an additional 28,358 shares during the period. Coca-Cola accounts for approximately 0.4% of Quest Partners LLC’s investment portfolio, making the stock its 8th biggest holding. Quest Partners LLC’s holdings in Coca-Cola were worth $4,369,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. New Millennium Group LLC purchased a new position in Coca-Cola during the 2nd quarter worth $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter valued at about $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter worth approximately $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola during the 2nd quarter worth approximately $38,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Down 1.3 %

Shares of KO opened at $61.74 on Monday. The firm has a market cap of $265.96 billion, a P/E ratio of 25.51, a PEG ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a 12 month low of $56.70 and a 12 month high of $73.53. The stock’s 50 day moving average is $68.63 and its two-hundred day moving average is $66.54. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. Analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Analyst Ratings Changes

KO has been the subject of several research reports. Citigroup lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Truist Financial increased their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

Insiders Place Their Bets

In related news, EVP Lisa Chang sold 40,334 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,150,619.18. The trade was a 35.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. This represents a 18.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 303,748 shares of company stock worth $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.