Catalyst Financial Partners LLC boosted its position in The Coca-Cola Company (NYSE:KO – Free Report) by 2.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 20,782 shares of the company’s stock after purchasing an additional 577 shares during the period. Catalyst Financial Partners LLC’s holdings in Coca-Cola were worth $1,493,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the 2nd quarter valued at about $26,000. Quarry LP acquired a new position in Coca-Cola in the second quarter valued at approximately $27,000. ESL Trust Services LLC acquired a new position in Coca-Cola in the first quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. boosted its position in Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 70.26% of the company’s stock.
Insider Activity at Coca-Cola
In other news, EVP Nancy Quan sold 18,482 shares of Coca-Cola 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Nancy Quan sold 18,482 shares of the firm’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 transaction of $1,274,333.90. Following the completion of the sale, 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 sale 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 company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 319,005 shares of company stock valued at $22,198,147. 0.97% of the stock is currently owned by insiders.
Coca-Cola Stock Up 0.5 %
Coca-Cola (NYSE:KO – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the business earned $0.74 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. Research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.
Coca-Cola Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.94%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on KO shares. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial upped their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised 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. Five research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.80.
Get Our Latest Stock Analysis on Coca-Cola
Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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