O Shaughnessy Asset Management LLC Buys 183,162 Shares of The Coca-Cola Company (NYSE:KO)

O Shaughnessy Asset Management LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 147.4% in the third quarter, Holdings Channel reports. The fund owned 307,388 shares of the company’s stock after acquiring an additional 183,162 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Coca-Cola were worth $16,145,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Monumental Financial Group Inc. acquired a new stake in shares of Coca-Cola in the second quarter valued at $27,000. Avion Wealth increased its stake in shares of Coca-Cola by 736.1% in the third quarter. Avion Wealth now owns 510 shares of the company’s stock valued at $27,000 after buying an additional 449 shares in the last quarter. Core Alternative Capital acquired a new stake in shares of Coca-Cola in the third quarter valued at $32,000. Strategic Asset Management LLC acquired a new stake in shares of Coca-Cola in the third quarter valued at $34,000. Finally, Larson Financial Group LLC increased its stake in shares of Coca-Cola by 37.0% in the third quarter. Larson Financial Group LLC now owns 748 shares of the company’s stock valued at $39,000 after buying an additional 202 shares in the last quarter. 67.08% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on KO. Royal Bank of Canada raised their target price on Coca-Cola from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. UBS Group lowered Coca-Cola from a “buy” rating to a “sell” rating in a research report on Tuesday, January 4th. Guggenheim upgraded Coca-Cola from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $61.00 to $66.00 in a research report on Tuesday, January 4th. Evercore ISI reiterated a “buy” rating on shares of Coca-Cola in a research report on Tuesday, November 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Coca-Cola from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Friday, October 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $61.76.

Shares of KO stock opened at $60.96 on Friday. The stock has a 50-day moving average of $57.10 and a 200-day moving average of $55.98. The Coca-Cola Company has a 1-year low of $48.11 and a 1-year high of $61.19. The stock has a market cap of $263.31 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 3.13 and a beta of 0.70. The company has a current ratio of 1.52, a quick ratio of 1.32 and a debt-to-equity ratio of 1.63.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, October 26th. The company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. Coca-Cola had a return on equity of 44.22% and a net margin of 23.31%. The company had revenue of $10.04 billion for the quarter, compared to analyst estimates of $9.72 billion. During the same quarter last year, the company earned $0.55 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. Sell-side analysts forecast that The Coca-Cola Company will post 2.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Tuesday, November 30th. Coca-Cola’s dividend payout ratio is currently 82.35%.

In other Coca-Cola news, insider Henrique Braun sold 23,118 shares of the company’s stock in a transaction that occurred on Tuesday, January 4th. The stock was sold at an average price of $60.00, for a total transaction of $1,387,080.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John Murphy sold 115,896 shares of the company’s stock in a transaction that occurred on Tuesday, January 4th. The stock was sold at an average price of $60.03, for a total value of $6,957,236.88. The disclosure for this sale can be found here. Insiders sold 284,246 shares of company stock valued at $16,757,518 over the last three months. Company insiders own 1.01% of the company’s stock.

Coca-Cola Company Profile

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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