Carrera Capital Advisors Purchases Shares of 42,422 The Coca-Cola Company (NYSE:KO)

Carrera Capital Advisors acquired a new stake in The Coca-Cola Company (NYSE:KO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 42,422 shares of the company’s stock, valued at approximately $3,069,000. Coca-Cola makes up about 0.8% of Carrera Capital Advisors’ holdings, making the stock its 22nd largest holding.

A number of other hedge funds have also recently made changes to their positions in the business. New Millennium Group LLC purchased a new stake in Coca-Cola in the 2nd quarter valued at $26,000. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth $27,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola in the first quarter valued at about $28,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the third quarter valued at about $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the third quarter worth about $36,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola 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 transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 303,748 shares of company stock valued at $20,677,431. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on KO shares. TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Barclays cut their price objective 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. Royal Bank of Canada raised their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.80.

Coca-Cola Stock Performance

NYSE:KO traded up $0.13 on Tuesday, reaching $63.49. 4,343,606 shares of the company’s stock were exchanged, compared to its average volume of 13,246,426. The stock has a fifty day simple moving average of $69.37 and a 200-day simple moving average of $66.52. The Coca-Cola Company has a 52 week low of $56.60 and a 52 week 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 $273.50 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 3.88 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the firm earned $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share 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 paid 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 dividend yield of 3.06%. Coca-Cola’s payout ratio is 80.17%.

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.