Catalyst Capital Advisors LLC Takes $194,000 Position in The Coca-Cola Company (NYSE:KO)

Catalyst Capital Advisors LLC purchased a new stake in shares of The Coca-Cola Company (NYSE:KO) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,702 shares of the company’s stock, valued at approximately $194,000.

Other institutional investors also recently bought and sold shares of the company. New Millennium Group LLC bought a new position in shares of Coca-Cola in the 2nd quarter worth approximately $26,000. Quarry LP purchased a new stake in Coca-Cola in the second quarter worth $27,000. ESL Trust Services LLC bought a new position in Coca-Cola in the first quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola during the third quarter valued at $36,000. Finally, DiNuzzo Private Wealth Inc. boosted its holdings in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $65.39 on Wednesday. The firm’s 50 day moving average price is $70.06 and its 200-day moving average price is $66.45. 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 stock has a market capitalization of $281.69 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.95 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data 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 net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Insider Activity

In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the sale, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,150,619.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 203,748 shares of company stock valued at $14,274,431 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. TD Cowen boosted their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Citigroup raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Barclays reduced their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.