Encompass More Asset Management Invests $406,000 in The Coca-Cola Company (NYSE:KO)

Encompass More Asset Management bought a new stake in The Coca-Cola Company (NYSE:KO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,653 shares of the company’s stock, valued at approximately $406,000.

Several other hedge funds have also recently added to or reduced their stakes in KO. FMR LLC increased its holdings in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Legal & General Group Plc increased its stake in Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after buying an additional 1,084,475 shares during the period. Truist Financial Corp raised its position in shares of Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after buying an additional 177,241 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Coca-Cola by 1.9% in the 3rd 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 during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of 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 in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

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 completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Trading Up 0.3 %

NYSE KO opened at $64.12 on Friday. The firm’s 50 day moving average price is $67.07 and its two-hundred day moving average price is $66.56. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The stock has a market cap of $276.22 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current 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 given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Morgan Stanley dropped their price objective 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. Wells Fargo & Company raised their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

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.