Nisa Investment Advisors LLC Grows Stock Holdings in The Coca-Cola Company (NYSE:KO)

Nisa Investment Advisors LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 10.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,149,209 shares of the company’s stock after acquiring an additional 107,374 shares during the period. Nisa Investment Advisors LLC’s holdings in Coca-Cola were worth $83,151,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of KO. Swedbank AB bought a new position in Coca-Cola during the 1st quarter worth about $102,604,000. BDF Gestion purchased a new position in shares of Coca-Cola in the second quarter worth $7,421,000. State of Alaska Department of Revenue raised its stake in Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after acquiring an additional 21,005 shares during the last quarter. Duality Advisers LP increased its holdings in shares of Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after purchasing an additional 73,434 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Coca-Cola by 0.7% during the first 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. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.2 %

KO traded down $0.16 on Monday, hitting $66.76. The company had a trading volume of 4,446,031 shares, compared to its average volume of 13,210,759. The company’s fifty day moving average price is $70.66 and its 200 day moving average price is $66.11. The Coca-Cola Company has a 1 year low of $55.42 and a 1 year high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The firm has a market cap of $287.60 billion, a P/E ratio of 26.83, a PEG ratio of 3.91 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.91%. Coca-Cola’s payout ratio is 77.60%.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 319,005 shares of company stock valued at $22,198,147 over the last 90 days. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

KO has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. upped their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Bank of America boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. TD Cowen raised their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, Truist Financial increased their target price 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. Five equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.80.

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.