Aljian Capital Management LLC Takes $221,000 Position in The Coca-Cola Company (NYSE:KO)

Aljian Capital Management LLC bought a new position in shares of The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,071 shares of the company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Claro Advisors LLC grew its holdings in shares of Coca-Cola by 1.4% during the third quarter. Claro Advisors LLC now owns 25,246 shares of the company’s stock worth $1,814,000 after purchasing an additional 345 shares during the last quarter. Concord Asset Management LLC VA boosted its stake in shares of Coca-Cola by 9.7% in the third quarter. Concord Asset Management LLC VA now owns 59,189 shares of the company’s stock valued at $4,253,000 after buying an additional 5,234 shares in the last quarter. Adero Partners LLC lifted its position in shares of Coca-Cola by 6.6% during the 3rd quarter. Adero Partners LLC now owns 7,468 shares of the company’s stock valued at $537,000 after acquiring an additional 464 shares during the period. Sawgrass Asset Management LLC boosted its stake in shares of Coca-Cola by 42.9% during the 3rd quarter. Sawgrass Asset Management LLC now owns 6,941 shares of the company’s stock worth $499,000 after acquiring an additional 2,085 shares in the last quarter. Finally, Schear Investment Advisers LLC grew its holdings in shares of Coca-Cola by 17.6% in the 3rd quarter. Schear Investment Advisers LLC now owns 7,044 shares of the company’s stock worth $506,000 after acquiring an additional 1,054 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa Chang sold 40,334 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This represents a 35.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,748 shares of company stock valued at $20,677,431. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Up 0.2 %

NYSE:KO opened at $61.85 on Tuesday. The firm has a market capitalization of $266.44 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. The Coca-Cola Company has a 52 week low of $56.96 and a 52 week high of $73.53. 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 stock has a 50 day moving average of $68.43 and a 200-day moving average of $66.54.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. Analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio is presently 80.17%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KO shares. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Wells Fargo & Company raised their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.36.

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.