The Coca-Cola Company (NYSE:KO) Shares Bought by Wealth Quarterback LLC

09 Nov 2024, 17:06 by Renee Jackson · The Cerbat Gem

Wealth Quarterback LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 16.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,724 shares of the company’s stock after purchasing an additional 2,716 shares during the quarter. Coca-Cola comprises 0.7% of Wealth Quarterback LLC’s portfolio, making the stock its 29th largest position. Wealth Quarterback LLC’s holdings in Coca-Cola were worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in KO. New Millennium Group LLC acquired a new position in Coca-Cola during the 2nd quarter valued at about $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter worth approximately $27,000. ESL Trust Services LLC bought a new position in Coca-Cola in the 1st quarter worth approximately $28,000. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the 3rd quarter valued at $36,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated 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 sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 203,748 shares of company stock valued at $14,274,431. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.5 %

NYSE:KO opened at $63.96 on Friday. The stock has a market cap of $275.53 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $56.06 and a fifty-two 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 stock’s 50-day moving average is $69.56 and its two-hundred day moving average is $66.44.

Coca-Cola (NYSE:KO – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 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 firm’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.03%. Coca-Cola’s dividend payout ratio is 80.17%.

Wall Street Analyst Weigh In

KO has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley decreased their target price 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. Citigroup upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Barclays decreased their price target 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. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $71.80.

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