Truvestments Capital LLC Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Truvestments Capital LLC raised its position in The Coca-Cola Company (NYSE:KO) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,708 shares of the company’s stock after acquiring an additional 1,084 shares during the quarter. Truvestments Capital LLC’s holdings in Coca-Cola were worth $3,141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its stake in shares of Coca-Cola by 2.6% in the third quarter. Brown Brothers Harriman & Co. now owns 215,035 shares of the company’s stock worth $15,452,000 after purchasing an additional 5,522 shares during the last quarter. Independent Advisor Alliance lifted its holdings in Coca-Cola by 0.7% in the 3rd quarter. Independent Advisor Alliance now owns 534,625 shares of the company’s stock worth $38,418,000 after buying an additional 3,699 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in Coca-Cola by 81.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 10,416 shares of the company’s stock worth $748,000 after buying an additional 4,669 shares during the period. Davis R M Inc. grew its position in shares of Coca-Cola by 12.6% in the 3rd quarter. Davis R M Inc. now owns 17,575 shares of the company’s stock worth $1,263,000 after buying an additional 1,965 shares during the last quarter. Finally, Prosperity Financial Group Inc. purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $209,000. 70.26% of the stock is owned by institutional investors.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 7.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 0.4 %

Shares of NYSE:KO opened at $64.20 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a fifty day simple moving average of $67.79 and a two-hundred day simple moving average of $66.57. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The stock has a market capitalization of $276.56 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.88 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The company 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%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. On average, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.02%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Analysts Set New Price Targets

A number of brokerages recently commented on KO. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.