Capital Market Strategies LLC Acquires New Holdings in The Coca-Cola Company (NYSE:KO)

Capital Market Strategies LLC bought a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, Holdings Channel reports. The institutional investor bought 3,240 shares of the company’s stock, valued at approximately $202,000.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Coca-Cola in the second quarter worth $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola during the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the 3rd quarter valued at about $36,000. Mount Lucas Management LP purchased a new position in shares of Coca-Cola in the second quarter worth approximately $38,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola in the third quarter worth approximately $43,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO traded down $0.64 during midday trading on Monday, reaching $61.11. 7,353,819 shares of the company were exchanged, compared to its average volume of 10,079,284. The stock has a market cap of $263.25 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. The business’s fifty day moving average is $63.37 and its two-hundred day moving average is $66.58. The Coca-Cola Company has a one year low of $57.93 and a one year 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.

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

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.485 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.17%. Coca-Cola’s payout ratio is currently 80.17%.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $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 accessible through this hyperlink. 0.97% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KO. Morgan Stanley decreased their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company decreased their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, December 2nd. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Barclays decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.50.

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.