O ROURKE & COMPANY Inc Buys 248 Shares of The Coca-Cola Company (NYSE:KO)

31 Oct 2024, 18:48 by Danessa Lincoln · The Markets Daily

O ROURKE & COMPANY Inc boosted its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,757 shares of the company’s stock after acquiring an additional 248 shares during the quarter. O ROURKE & COMPANY Inc’s holdings in Coca-Cola were worth $1,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. New Millennium Group LLC acquired a new position in Coca-Cola during the second quarter worth $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the 2nd quarter worth about $27,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the 1st quarter valued at about $28,000. DiNuzzo Private Wealth Inc. increased its position in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the third quarter worth about $36,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on KO. Citigroup raised their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Check Out Our Latest Report on KO

Insider Buying and Selling

In other news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. 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 hyperlink. In other news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 319,005 shares of company stock worth $22,198,147. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock traded down $0.30 on Thursday, hitting $65.62. The company’s stock had a trading volume of 2,836,809 shares, compared to its average volume of 13,210,856. 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 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock’s 50 day moving average is $70.47 and its 200-day moving average is $66.22. The company has a market capitalization of $282.68 billion, a PE ratio of 27.12, a PEG ratio of 3.91 and a beta of 0.60.

Coca-Cola (NYSE:KO – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. Equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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 issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Coca-Cola Company Profile

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