The Coca-Cola Company (NYSE:KO) Shares Bought by Nicollet Investment Management Inc.

Nicollet Investment Management Inc. lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,105 shares of the company’s stock after purchasing an additional 287 shares during the period. Coca-Cola comprises about 1.6% of Nicollet Investment Management Inc.’s holdings, making the stock its 25th largest position. Nicollet Investment Management Inc.’s holdings in Coca-Cola were worth $4,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harvest Portfolios Group Inc. purchased a new position in Coca-Cola during the 3rd quarter worth $18,383,000. Balentine LLC grew its holdings in shares of Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares during the last quarter. CIBC Asset Management Inc increased its position in Coca-Cola by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after acquiring an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in Coca-Cola by 4.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after acquiring an additional 21,005 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of KO stock opened at $61.73 on Friday. The Coca-Cola Company has a 1-year low of $56.70 and a 1-year high of $73.53. 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 firm has a market cap of $265.92 billion, a P/E ratio of 25.51, a P/E/G ratio of 3.83 and a beta of 0.61. The firm has a fifty day moving average of $68.63 and a two-hundred day moving average of $66.48.

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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company 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 posted $0.74 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, 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. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KO shares. Wells Fargo & Company boosted their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Barclays decreased their target price 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. Citigroup lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley decreased their price objective 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. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

Insiders Place Their Bets

In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This trade represents a 35.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 8.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 303,748 shares of company stock worth $20,677,431. Corporate insiders own 0.97% of the company’s stock.

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.