Stevens Capital Management LP Purchases Shares of 49,610 The Coca-Cola Company (NYSE:KO)

Stevens Capital Management LP purchased a new stake in The Coca-Cola Company (NYSE:KOFree Report) in the third quarter, Holdings Channel reports. The institutional investor purchased 49,610 shares of the company’s stock, valued at approximately $3,565,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of KO. Stifel Financial Corp boosted its position in Coca-Cola by 1.9% during the third quarter. Stifel Financial Corp now owns 8,508,939 shares of the company’s stock valued at $611,454,000 after purchasing an additional 156,101 shares during the last quarter. SYM FINANCIAL Corp grew its position in Coca-Cola by 16.4% in the third quarter. SYM FINANCIAL Corp now owns 7,858 shares of the company’s stock worth $565,000 after acquiring an additional 1,105 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Coca-Cola during the 3rd quarter valued at $514,000. Quantinno Capital Management LP raised its stake in shares of Coca-Cola by 26.0% in the 3rd quarter. Quantinno Capital Management LP now owns 307,328 shares of the company’s stock valued at $22,085,000 after acquiring an additional 63,475 shares in the last quarter. Finally, RBF Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at approximately $5,030,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of several research reports. Wells Fargo & Company lowered their price target on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial boosted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.14.

Read Our Latest Analysis on KO

Coca-Cola Price Performance

KO opened at $62.21 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 12 month low of $57.47 and a 12 month high of $73.53. The company has a fifty day simple moving average of $66.57 and a 200 day simple moving average of $66.58. The stock has a market cap of $267.99 billion, a P/E ratio of 25.71, a P/E/G ratio of 3.86 and a beta of 0.61.

Coca-Cola (NYSE:KOGet Free Report) last released its 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 firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. On average, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. Coca-Cola’s dividend payout ratio is 80.17%.

Coca-Cola Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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