Illinois Municipal Retirement Fund lifted its position in shares of Coca-Cola Company (The) (NYSE:KO – Free Report) by 10.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,754 shares of the company’s stock after acquiring an additional 35,621 shares during the period. Illinois Municipal Retirement Fund’s holdings in Coca-Cola were worth $33,722,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Garrett Wealth Advisory Group LLC lifted its position in Coca-Cola by 1.7% in the 3rd quarter. Garrett Wealth Advisory Group LLC now owns 6,274 shares of the company’s stock valued at $540,000 after acquiring an additional 107 shares in the last quarter. Certified Advisory Corp increased its holdings in shares of Coca-Cola by 0.3% in the 3rd quarter. Certified Advisory Corp now owns 33,711 shares of the company’s stock worth $2,902,000 after purchasing an additional 108 shares in the last quarter. Lantern Wealth Advisors LLC increased its holdings in shares of Coca-Cola by 3.6% in the 2nd quarter. Lantern Wealth Advisors LLC now owns 3,316 shares of the company’s stock worth $270,000 after purchasing an additional 115 shares in the last quarter. New Wave Wealth Advisors LLC raised its stake in shares of Coca-Cola by 4.4% in the third quarter. New Wave Wealth Advisors LLC now owns 2,747 shares of the company’s stock worth $248,000 after purchasing an additional 116 shares during the last quarter. Finally, Gill Capital Partners LLC raised its stake in shares of Coca-Cola by 4.1% in the second quarter. Gill Capital Partners LLC now owns 2,992 shares of the company’s stock worth $243,000 after purchasing an additional 117 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.
Coca-Cola Stock Performance
KO stock opened at $96.94 on Wednesday. The company has a market cap of $417.01 billion, a P/E ratio of 28.51, a price-to-earnings-growth ratio of 3.75 and a beta of 0.28. Coca-Cola Company has a 1 year low of $67.27 and a 1 year high of $97.39. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.38 and a quick ratio of 1.19. The stock’s fifty day moving average price is $90.25 and its 200-day moving average price is $82.93.
Coca-Cola (NYSE:KO – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Coca-Cola had a return on equity of 38.79% and a net margin of 28.65%. The company had revenue of $13.35 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. Coca-Cola’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that Coca-Cola Company will post 3.34 earnings per share for the current year.
Coca-Cola Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, December 1st. Coca-Cola’s payout ratio is currently 62.35%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on KO shares. Evercore reaffirmed an “outperform” rating and set a $100.00 price target (up from $88.00) on shares of Coca-Cola in a report on Tuesday, July 28th. Citigroup lifted their price objective on Coca-Cola from $102.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Freedom Broker boosted their target price on Coca-Cola from $85.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 28th. The Goldman Sachs Group restated a “neutral” rating and set a $86.00 target price (up from $82.00) on shares of Coca-Cola in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group lifted their price target on shares of Coca-Cola from $95.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.26.
Check Out Our Latest Report on KO
Insider Activity
In related news, EVP Beatriz R. Perez sold 67,548 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $94.91, for a total value of $6,410,980.68. Following the transaction, the executive vice president owned 160,428 shares of the company’s stock, valued at approximately $15,226,221.48. This trade represents a 29.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Nancy Quan sold 20,585 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $95.62, for a total transaction of $1,968,337.70. Following the sale, the executive vice president owned 223,330 shares of the company’s stock, valued at $21,354,814.60. This trade represents a 8.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 249,498 shares of company stock valued at $23,025,238 in the last quarter. 0.90% of the stock is currently owned by insiders.
More Coca-Cola News
Here are the key news stories impacting Coca-Cola this week:
- Positive Sentiment: Coca-Cola’s push into functional beverages is gaining traction, with fairlife, Powerade and smartwater growth, alongside innovation and capacity expansion, offering potential avenues for growth. Can Coca-Cola Benefit From Rising Demand for Functional Drinks?
- Positive Sentiment: Several articles emphasize KO’s durable brands and its 64-year record of dividend increases, reinforcing its appeal to long-term income investors. One report also notes Berkshire Hathaway receives about $848 million annually in dividends from its Coca-Cola investment. Coca-Cola’s Dividend Has Grown 64 Years in a Row Warren Buffett’s Coca-Cola Investment
- Neutral Sentiment: Coca-Cola India is advancing draft papers for an IPO. The report does not specify how the offering could affect KO financially. Coca-Cola India IPO moves forward with draft papers
- Neutral Sentiment: EVP Nancy Quan sold shares to cover tax withholding on vested equity awards and retained a substantial stake, making the transaction less informative as a signal about her outlook. Coca-Cola EVP Nancy Quan Sells Shares
- Negative Sentiment: Some commentary cautions that KO’s share-price gains have outpaced revisions to its earnings outlook, raising valuation concerns. Higher real Treasury yields and competing bond yields could also make dividend stocks less attractive to some investors. Coca-Cola Stock Keeps Setting Records Treasuries Now Offer 2.66% Above Inflation
About Coca-Cola
The Coca-Cola Company (NYSE: KO) is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands. The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.
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