Noesis Capital Mangement Corp Invests $233,000 in The Coca-Cola Company (NYSE:KO)

Noesis Capital Mangement Corp purchased a new position in shares of The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,237 shares of the company’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after buying an additional 11,206,995 shares in the last quarter. Legal & General Group Plc grew its holdings in Coca-Cola by 2.9% during the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares during the period. Truist Financial Corp raised its position in Coca-Cola by 1.1% in the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after acquiring an additional 177,241 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Coca-Cola by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock worth $847,468,000 after acquiring an additional 222,028 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Coca-Cola by 8.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company’s stock valued at $532,558,000 after acquiring an additional 640,402 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Down 0.2 %

Shares of KO stock opened at $64.43 on Thursday. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company has a market capitalization of $277.55 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 3.91 and a beta of 0.61. The firm has a 50-day moving average price of $67.34 and a 200 day moving average price of $66.57. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. Research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm 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 $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.01%. Coca-Cola’s payout ratio is currently 80.17%.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent analyst reports. Wells Fargo & Company upped 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 decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Truist Financial upped their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

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.