Optas LLC Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Optas LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 6.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,917 shares of the company’s stock after acquiring an additional 492 shares during the period. Optas LLC’s holdings in Coca-Cola were worth $569,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New Millennium Group LLC bought a new stake in Coca-Cola during the second quarter worth about $26,000. Quarry LP purchased a new position in shares of Coca-Cola during the 2nd quarter valued at about $27,000. ESL Trust Services LLC bought a new stake in Coca-Cola in the 1st quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. boosted its stake in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the third quarter valued at approximately $36,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.5 %

KO stock opened at $65.01 on Friday. The stock has a market capitalization of $280.05 billion, a P/E ratio of 26.86, a P/E/G ratio of 3.97 and a beta of 0.62. 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 1-year low of $56.06 and a 1-year high of $73.53. The business has a fifty day moving average price of $70.29 and a 200-day moving average price of $66.32.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. Equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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 of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.98%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KO shares. Bank of America boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Buying and Selling

In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares in the company, valued at approximately $5,074,330.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,074,330.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 261,870 shares of company stock worth $18,256,369. 0.97% of the stock is owned by insiders.

About Coca-Cola

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.