Fisher Asset Management LLC Has $486.18 Million Stock Position in The Coca-Cola Company (NYSE:KO)

25 Nov 2024, 15:48 by Danessa Lincoln · The Markets Daily

Fisher Asset Management LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 39.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,765,669 shares of the company’s stock after acquiring an additional 1,921,241 shares during the quarter. Fisher Asset Management LLC owned about 0.16% of Coca-Cola worth $486,181,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Daiwa Securities Group Inc. lifted its position in shares of Coca-Cola by 3.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 703,503 shares of the company’s stock worth $50,554,000 after acquiring an additional 21,862 shares during the period. Summit Trail Advisors LLC lifted its position in Coca-Cola by 20.5% in the third quarter. Summit Trail Advisors LLC now owns 26,286 shares of the company’s stock worth $1,901,000 after purchasing an additional 4,470 shares during the period. SevenBridge Financial Group LLC boosted its stake in Coca-Cola by 7.6% during the third quarter. SevenBridge Financial Group LLC now owns 12,783 shares of the company’s stock worth $919,000 after buying an additional 900 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Coca-Cola by 1.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 193,948 shares of the company’s stock valued at $13,937,000 after buying an additional 3,347 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Coca-Cola by 37.4% in the 3rd quarter. Larson Financial Group LLC now owns 32,462 shares of the company’s stock valued at $2,333,000 after buying an additional 8,837 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was 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 in the company, valued at $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Up 0.3 %

Shares of NYSE KO opened at $63.92 on Monday. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. The firm has a market capitalization of $275.35 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.88 and a beta of 0.61. 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 company’s 50 day simple moving average is $67.79 and its 200 day simple moving average is $66.57.

Coca-Cola (NYSE:KO – Get Free Report) last posted 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the business posted $0.74 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.04%. Coca-Cola’s payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.36.

Check Out Our Latest Analysis on Coca-Cola

Coca-Cola Profile

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