The Coca-Cola Company (NYSE:KO) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 370,657 shares of the company’s stock after acquiring an additional 31,649 shares during the period. Pacer Advisors Inc.’s holdings in Coca-Cola were worth $26,635,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC acquired a new position in Coca-Cola during the second quarter worth $26,000. Quarry LP purchased a new stake in Coca-Cola during the second quarter worth $27,000. Hara Capital LLC purchased a new stake in Coca-Cola during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the third quarter worth $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola during the second quarter worth $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO opened at $63.92 on Friday. The business’s 50-day moving average price is $67.79 and its 200 day moving average price is $66.51. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company has a market capitalization of $275.33 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. 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 earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm 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 business posted $0.74 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.04%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Insiders Place Their Bets

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 stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 42,397 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 8.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 160,881 shares of company stock worth $10,693,244 over the last three months. 0.97% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on KO shares. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company boosted their target price on 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 target price 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. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

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.