The Coca-Cola Company (NYSE:KO) Shares Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. grew its position in shares of The Coca-Cola Company (NYSE:KO) by 7.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,560 shares of the company’s stock after purchasing an additional 6,190 shares during the period. Everence Capital Management Inc.’s holdings in Coca-Cola were worth $6,795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB acquired a new stake in Coca-Cola during the 1st quarter worth approximately $102,604,000. BDF Gestion purchased a new position in Coca-Cola in the second quarter valued at $7,421,000. Duality Advisers LP grew its stake in Coca-Cola by 191.1% during the 1st quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after purchasing an additional 73,434 shares in the last quarter. TD Asset Management Inc increased its holdings in Coca-Cola by 0.7% during the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after purchasing an additional 20,048 shares during the period. Finally, New Mexico Educational Retirement Board raised its position in Coca-Cola by 11.6% in the 1st quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock valued at $14,013,000 after purchasing an additional 23,500 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Bank of America lifted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Morgan Stanley lifted their price target on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. increased their price objective on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.00.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,954,176.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nancy Quan sold 37,787 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $66.96, for a total value of $2,530,217.52. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,954,176.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 356,792 shares of company stock worth $24,728,364. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

KO traded down $0.77 during trading on Monday, reaching $69.67. The company’s stock had a trading volume of 6,212,869 shares, compared to its average volume of 13,131,331. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company’s fifty day moving average price is $70.70 and its 200-day moving average price is $65.80. The Coca-Cola Company has a 52-week low of $54.04 and a 52-week high of $73.53. The company has a market capitalization of $300.14 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.