Socorro Asset Management LP Buys 367 Shares of The Coca-Cola Company (NYSE:KO)

Socorro Asset Management LP increased its position in The Coca-Cola Company (NYSE:KO) by 0.3% in the third quarter, Holdings Channel reports. The firm owned 142,109 shares of the company’s stock after purchasing an additional 367 shares during the quarter. Coca-Cola accounts for 3.9% of Socorro Asset Management LP’s holdings, making the stock its 4th biggest holding. Socorro Asset Management LP’s holdings in Coca-Cola were worth $10,212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Plotkin Financial Advisors LLC bought a new stake in Coca-Cola during the third quarter valued at $572,000. Semmax Financial Advisors Inc. boosted its holdings in shares of Coca-Cola by 1.2% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 53,096 shares of the company’s stock valued at $3,815,000 after buying an additional 647 shares during the period. Encompass More Asset Management bought a new stake in shares of Coca-Cola during the 3rd quarter valued at about $406,000. Edgestream Partners L.P. raised its stake in Coca-Cola by 208.4% during the third quarter. Edgestream Partners L.P. now owns 37,645 shares of the company’s stock worth $2,705,000 after acquiring an additional 25,440 shares during the period. Finally, Acropolis Investment Management LLC boosted its stake in Coca-Cola by 15.6% in the third quarter. Acropolis Investment Management LLC now owns 6,654 shares of the company’s stock valued at $478,000 after acquiring an additional 898 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated Friday, November 8th. The stock was 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 trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays dropped their price target 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. Wells Fargo & Company raised their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four equities research 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Stock Up 0.2 %

KO opened at $64.08 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The company has a market capitalization of $276.04 billion, a PE ratio of 26.48, a P/E/G ratio of 3.89 and a beta of 0.61. The stock’s fifty day moving average is $67.07 and its 200-day moving average is $66.58. The Coca-Cola Company has a one year low of $57.47 and a one year 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 for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 EPS. On average, equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.03%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

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.