3,320 Shares in The Coca-Cola Company (NYSE:KO) Bought by PYA Waltman Capital LLC

PYA Waltman Capital LLC purchased a new stake in The Coca-Cola Company (NYSE:KO) in the 3rd quarter, HoldingsChannel reports. The fund purchased 3,320 shares of the company’s stock, valued at approximately $239,000.

Several other hedge funds also recently added to or reduced their stakes in KO. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the second quarter valued at about $26,000. Quarry LP purchased a new position in Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP acquired a new position in shares of Coca-Cola during the second quarter worth $38,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $62.53 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 Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The business’s fifty day moving average price is $66.21 and its 200 day moving average price is $66.61. The stock has a market capitalization of $269.37 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted 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 company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the firm posted $0.74 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.10%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company cut 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, December 2nd. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Morgan Stanley dropped their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Four investment 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.