Alken Asset Management Ltd Acquires Shares of 11,100 The Coca-Cola Company (NYSE:KO)

Alken Asset Management Ltd bought a new position in The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 11,100 shares of the company’s stock, valued at approximately $689,000. Coca-Cola accounts for approximately 1.3% of Alken Asset Management Ltd’s investment portfolio, making the stock its 29th largest holding.

A number of other large investors have also recently modified their holdings of the stock. Wolff Wiese Magana LLC boosted its stake in Coca-Cola by 3.8% during the fourth quarter. Wolff Wiese Magana LLC now owns 27,344 shares of the company’s stock worth $1,702,000 after acquiring an additional 1,002 shares in the last quarter. Smith Anglin Financial LLC increased its holdings in shares of Coca-Cola by 0.9% during the fourth quarter. Smith Anglin Financial LLC now owns 23,663 shares of the company’s stock valued at $1,473,000 after acquiring an additional 207 shares in the last quarter. Apella Capital LLC boosted its stake in Coca-Cola by 2.5% in the 4th quarter. Apella Capital LLC now owns 10,800 shares of the company’s stock worth $672,000 after purchasing an additional 267 shares in the last quarter. Founders Grove Wealth Partners LLC bought a new stake in Coca-Cola during the 4th quarter valued at about $479,000. Finally, Meridian Financial Partners LLC lifted its stake in shares of Coca-Cola by 3.4% in the fourth quarter. Meridian Financial Partners LLC now owns 18,553 shares of the company’s stock worth $1,155,000 after buying an additional 611 shares in the last quarter. Institutional investors 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 the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 0.8 %

Shares of KO stock traded up $0.47 on Wednesday, hitting $62.51. The stock had a trading volume of 1,592,860 shares, compared to its average volume of 14,666,840. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The business has a 50 day moving average price of $62.78 and a 200 day moving average price of $66.47. The company has a market cap of $269.28 billion, a PE ratio of 25.83, a P/E/G ratio of 3.83 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion for 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%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. Research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays cut their price objective 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. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.60.

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.