Boyd Wealth Management LLC Purchases New Shares in The Coca-Cola Company (NYSE:KO)

31 Oct 2024, 13:02 by Jessica Moore · The Cerbat Gem

Boyd Wealth Management LLC acquired a new position in shares of The Coca-Cola Company (NYSE:KO – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,803 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. State of Alaska Department of Revenue lifted its stake in shares of Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after acquiring an additional 21,005 shares during the period. Swedbank AB acquired a new position in Coca-Cola during the 1st quarter valued at about $102,604,000. BDF Gestion acquired a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $7,421,000. Nisa Investment Advisors LLC raised its stake in shares of Coca-Cola by 10.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,149,209 shares of the company’s stock worth $83,151,000 after buying an additional 107,374 shares during the last quarter. Finally, Duality Advisers LP lifted its holdings in Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after buying an additional 73,434 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $65.92 on Thursday. The stock has a market capitalization of $283.98 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 3.91 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The firm has a fifty day simple moving average of $70.47 and a 200 day simple moving average of $66.22. The Coca-Cola Company has a 12 month low of $56.06 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year. Research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.94%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Wall Street Analyst Weigh In

Several analysts have commented on KO shares. Wells Fargo & Company upped their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Citigroup upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Five equities research 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.80.

Get Our Latest Analysis on Coca-Cola

Insider Buying and Selling at Coca-Cola

In related news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the 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 transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders have sold a total of 319,005 shares of company stock worth $22,198,147 over the last ninety days. Insiders own 0.97% of the company’s stock.

Coca-Cola Profile

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