Fisher Asset Management LLC Purchases 1,921,241 Shares of The Coca-Cola Company (NYSE:KO)

Fisher Asset Management LLC grew its position in The Coca-Cola Company (NYSE:KO) by 39.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,765,669 shares of the company’s stock after purchasing an additional 1,921,241 shares during the period. Fisher Asset Management LLC’s holdings in Coca-Cola were worth $486,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of KO. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Coca-Cola in the third quarter worth $269,382,000. Manning & Napier Advisors LLC bought a new position in shares of Coca-Cola in the 2nd quarter valued at about $188,448,000. Pathway Financial Advisers LLC increased its position in shares of Coca-Cola by 7,006.8% in the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after acquiring an additional 2,443,612 shares during the last quarter. Raymond James & Associates raised its holdings in Coca-Cola by 42.6% during the second quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock worth $397,515,000 after acquiring an additional 1,866,348 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in Coca-Cola by 7,792.8% during the third quarter. International Assets Investment Management LLC now owns 1,744,302 shares of the company’s stock valued at $125,346,000 after purchasing an additional 1,722,202 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

KO opened at $63.92 on Monday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market capitalization of $275.35 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61. The business has a fifty day simple moving average of $67.79 and a 200 day simple moving average of $66.57. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. Coca-Cola’s payout ratio is 80.17%.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The trade was a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company upped their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola 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.