Second Line Capital LLC Raises Stake in The Coca-Cola Company (NYSE:KO)

Second Line Capital LLC boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 14.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,957 shares of the company’s stock after purchasing an additional 1,147 shares during the quarter. Second Line Capital LLC’s holdings in Coca-Cola were worth $648,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KO shares. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Barclays dropped their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Morgan Stanley reduced their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.14.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $62.94 on Wednesday. The business has a 50-day simple moving average of $66.03 and a 200-day simple moving average of $66.61. The company has a market cap of $271.11 billion, a PE ratio of 26.01, a P/E/G ratio of 3.80 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

Coca-Cola (NYSE:KO) last released its quarterly earnings data 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. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.