Brooklyn Investment Group Has $2.59 Million Stake in The Coca-Cola Company (NYSE:KO)

Brooklyn Investment Group raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 43.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 36,027 shares of the company’s stock after purchasing an additional 10,843 shares during the quarter. Coca-Cola accounts for about 0.9% of Brooklyn Investment Group’s investment portfolio, making the stock its 22nd biggest position. Brooklyn Investment Group’s holdings in Coca-Cola were worth $2,589,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Ancora Advisors LLC increased its stake in Coca-Cola by 8.0% in the first quarter. Ancora Advisors LLC now owns 46,528 shares of the company’s stock valued at $2,847,000 after acquiring an additional 3,435 shares during the period. Coppell Advisory Solutions Corp. acquired a new stake in Coca-Cola during the first quarter valued at approximately $452,000. Hancock Whitney Corp grew its stake in shares of Coca-Cola by 14.5% in the 1st quarter. Hancock Whitney Corp now owns 57,022 shares of the company’s stock valued at $3,489,000 after purchasing an additional 7,226 shares during the period. Pineridge Advisors LLC raised its holdings in shares of Coca-Cola by 8.4% in the 1st quarter. Pineridge Advisors LLC now owns 2,265 shares of the company’s stock worth $139,000 after buying an additional 175 shares in the last quarter. Finally, XML Financial LLC lifted its position in shares of Coca-Cola by 7.1% during the 1st quarter. XML Financial LLC now owns 25,541 shares of the company’s stock worth $1,563,000 after buying an additional 1,704 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $64.38 on Tuesday. The stock has a market cap of $277.34 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 3.88 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business’s 50-day simple moving average is $67.63 and its 200 day simple moving average is $66.58.

Coca-Cola (NYSE:KO) last issued its quarterly 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. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the company earned $0.74 EPS. Coca-Cola’s revenue was down .8% on a year-over-year basis. As a group, research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current 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 is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Wall Street Analyst Weigh In

Several research firms have issued reports on KO. Barclays dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley reduced their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by insiders.

Coca-Cola Company 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.