The Coca-Cola Company (NYSE:KO) Shares Acquired by Brooklyn Investment Group

Brooklyn Investment Group boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 43.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,027 shares of the company’s stock after buying an additional 10,843 shares during the quarter. Coca-Cola accounts for approximately 0.9% of Brooklyn Investment Group’s investment portfolio, making the stock its 22nd largest position. Brooklyn Investment Group’s holdings in Coca-Cola were worth $2,589,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the 2nd quarter worth $26,000. Quarry LP acquired a new position in shares of Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the 3rd quarter worth about $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola during the second quarter valued at about $38,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on KO shares. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley dropped 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 research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Stock Up 0.7 %

KO stock opened at $64.38 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market cap of $277.34 billion, a PE ratio of 26.60, a PEG ratio of 3.88 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. The company has a fifty day simple moving average of $67.63 and a 200 day simple moving average of $66.58.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the company posted $0.74 EPS. The firm’s revenue was down .8% on a year-over-year basis. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company 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. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is 80.17%.

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.