Victory Capital Management Inc. increased its position in shares of The Coca-Cola Company (NYSE:KO) by 39.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,857,263 shares of the company’s stock after purchasing an additional 810,005 shares during the period. Victory Capital Management Inc. owned about 0.07% of The Coca-Cola worth $141,063,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Boyar Asset Management Inc. bought a new stake in shares of The Coca-Cola during the third quarter valued at approximately $1,186,000. Valmark Advisers Inc. grew its position in The Coca-Cola by 70.4% in the third quarter. Valmark Advisers Inc. now owns 9,937 shares of the company’s stock valued at $491,000 after acquiring an additional 4,105 shares during the period. Bell Rock Capital LLC grew its position in The Coca-Cola by 15.7% in the third quarter. Bell Rock Capital LLC now owns 11,693 shares of the company’s stock valued at $577,000 after acquiring an additional 1,591 shares during the period. LPL Financial LLC grew its position in The Coca-Cola by 0.6% in the third quarter. LPL Financial LLC now owns 1,678,051 shares of the company’s stock valued at $82,845,000 after acquiring an additional 9,410 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new stake in The Coca-Cola in the third quarter valued at $3,094,000. Institutional investors and hedge funds own 65.86% of the company’s stock.
NYSE:KO traded down $0.73 during mid-day trading on Tuesday, hitting $53.12. The company had a trading volume of 121,489 shares, compared to its average volume of 17,324,428. The Coca-Cola Company has a fifty-two week low of $36.27 and a fifty-two week high of $60.13. The business’s fifty day moving average is $50.12 and its two-hundred day moving average is $47.91. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.01 and a current ratio of 1.13. The firm has a market cap of $231.42 billion, a P/E ratio of 28.05, a P/E/G ratio of 6.21 and a beta of 0.55.
The Coca-Cola (NYSE:KO) last released its earnings results on Thursday, October 22nd. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.09. The Coca-Cola had a return on equity of 41.37% and a net margin of 24.90%. The firm had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The company’s quarterly revenue was down 9.0% on a year-over-year basis. Equities analysts forecast that The Coca-Cola Company will post 1.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Monday, November 30th. The Coca-Cola’s payout ratio is 77.73%.
KO has been the topic of a number of analyst reports. UBS Group upped their price target on The Coca-Cola from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Zacks Investment Research cut The Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price target on the stock. in a research report on Tuesday, September 22nd. Finally, Morgan Stanley upped their price target on The Coca-Cola from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $53.28.
In other The Coca-Cola news, Director David B. Weinberg sold 200,000 shares of the stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $50.12, for a total value of $10,024,000.00. Following the completion of the sale, the director now directly owns 355,214 shares in the company, valued at $17,803,325.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David B. Weinberg sold 100,000 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $52.65, for a total value of $5,265,000.00. Following the completion of the sale, the director now owns 355,214 shares of the company’s stock, valued at $18,702,017.10. The disclosure for this sale can be found here. Insiders sold 400,000 shares of company stock worth $20,264,000 in the last three months. Insiders own 1.01% of the company’s stock.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantÂ-based beverages; tea and coffee; and energy drinks. 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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