Strathmore Capital Advisors Inc. Buys New Stake in The Coca-Cola Company (NYSE:KO)

Strathmore Capital Advisors Inc. bought a new position in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 7,301 shares of the company’s stock, valued at approximately $455,000. Coca-Cola makes up approximately 0.3% of Strathmore Capital Advisors Inc.’s portfolio, making the stock its 22nd largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new position in Coca-Cola during the 2nd quarter worth approximately $68,000. Caprock Group LLC grew its stake in shares of Coca-Cola by 129.3% during the second quarter. Caprock Group LLC now owns 48,884 shares of the company’s stock worth $3,134,000 after purchasing an additional 27,565 shares in the last quarter. Koss Olinger Consulting LLC purchased a new position in Coca-Cola in the second quarter valued at $355,000. Mount Lucas Management LP acquired a new stake in Coca-Cola in the second quarter valued at $38,000. Finally, Stonekeep Investments LLC purchased a new stake in Coca-Cola during the 2nd quarter worth about $286,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

KO remained flat at $60.81 during trading on Tuesday. 9,994,381 shares of the company’s stock traded hands, compared to its average volume of 12,736,998. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a market capitalization of $261.96 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 3.83 and a beta of 0.61. 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 has a fifty day moving average of $63.25 and a 200-day moving average of $66.57.

Coca-Cola (NYSE:KO) last posted 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 net margin of 22.45% and a return on equity of 44.01%. The firm 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 company posted $0.74 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KO shares. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Truist Financial lifted 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. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $72.27.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is currently owned by company insiders.

About Coca-Cola

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.