Atom Investors LP Invests $395,000 in The Coca-Cola Company (NYSE:KO)

Atom Investors LP purchased a new position in shares of The Coca-Cola Company (NYSE:KO) in the third quarter, HoldingsChannel reports. The fund purchased 5,501 shares of the company’s stock, valued at approximately $395,000.

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

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 2.1 %

Shares of NYSE:KO opened at $62.21 on Thursday. 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 company has a fifty day simple moving average of $66.57 and a 200 day simple moving average of $66.58. The firm has a market cap of $267.99 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last issued 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. 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 during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 annualized dividend and a yield of 3.12%. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KO. Morgan Stanley decreased their target price on shares of 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 reduced their price target on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday. Barclays reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Truist Financial lifted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.14.

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.