Infusive Asset Management Inc. Reduces Position in The Coca-Cola Company (NYSE:KO)

Infusive Asset Management Inc. decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 23.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,097 shares of the company’s stock after selling 25,616 shares during the quarter. Coca-Cola comprises about 2.5% of Infusive Asset Management Inc.’s investment portfolio, making the stock its 17th biggest position. Infusive Asset Management Inc.’s holdings in Coca-Cola were worth $5,971,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KO. New Millennium Group LLC purchased a new position in Coca-Cola in the second quarter valued at about $26,000. Quarry LP purchased a new position in Coca-Cola in the second quarter valued at about $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the third quarter worth about $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola during the second quarter worth about $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value 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 approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $64.43 on Friday. The company’s fifty day moving average is $67.22 and its two-hundred day moving average is $66.56. 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 Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The company has a market cap of $277.55 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business posted $0.74 earnings per share. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. Equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analyst Ratings Changes

A number of analysts have recently issued reports on KO shares. Barclays dropped their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. 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. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.