ANTIPODES PARTNERS Ltd purchased a new stake in shares of The Coca-Cola Co (NYSE:KO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,041,328 shares of the company’s stock, valued at approximately $56,690,000. The Coca-Cola makes up 2.7% of ANTIPODES PARTNERS Ltd’s holdings, making the stock its 19th biggest holding.
Other institutional investors also recently made changes to their positions in the company. Krane Funds Advisors LLC purchased a new stake in shares of The Coca-Cola in the second quarter valued at approximately $25,000. LFA Lugano Financial Advisors SA lifted its stake in The Coca-Cola by 348.8% during the second quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock worth $28,000 after purchasing an additional 429 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new position in The Coca-Cola during the second quarter worth $36,000. KCS Wealth Advisory acquired a new position in The Coca-Cola during the third quarter worth $41,000. Finally, Proffitt & Goodson Inc. acquired a new position in The Coca-Cola during the third quarter worth $44,000. Hedge funds and other institutional investors own 67.55% of the company’s stock.
KO has been the topic of several analyst reports. Morgan Stanley reiterated a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a research note on Tuesday, October 29th. JPMorgan Chase & Co. set a $59.00 price target on The Coca-Cola and gave the company a “neutral” rating in a research note on Friday, October 18th. Evercore ISI reaffirmed a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a report on Sunday, November 17th. Guggenheim set a $59.00 price objective on The Coca-Cola and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, ValuEngine lowered The Coca-Cola from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $56.15.
In other news, SVP Lisa Chang bought 500 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $54.55 per share, for a total transaction of $27,275.00. Following the purchase, the senior vice president now owns 5,948 shares of the company’s stock, valued at approximately $324,463.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy Quan sold 24,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $53.90, for a total transaction of $1,293,600.00. Following the completion of the transaction, the senior vice president now owns 189,049 shares in the company, valued at $10,189,741.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 233,026 shares of company stock valued at $12,801,826. Company insiders own 1.33% of the company’s stock.
Shares of NYSE KO traded up $0.49 during trading on Wednesday, hitting $54.29. 13,623,686 shares of the company traded hands, compared to its average volume of 13,052,377. The company has a 50-day moving average price of $53.40 and a 200-day moving average price of $52.83. The company has a quick ratio of 0.79, a current ratio of 0.92 and a debt-to-equity ratio of 1.50. The Coca-Cola Co has a 1 year low of $44.42 and a 1 year high of $55.92. The firm has a market capitalization of $228.79 billion, a P/E ratio of 26.10, a P/E/G ratio of 3.72 and a beta of 0.43.
The Coca-Cola (NYSE:KO) last issued its earnings results on Friday, October 18th. The company reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.42 billion. The Coca-Cola had a net margin of 22.41% and a return on equity of 45.21%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS. Research analysts predict that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, November 29th. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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