Redpoint Investment Management Pty Ltd Grows Position in The Coca-Cola Co (KO)
Redpoint Investment Management Pty Ltd increased its position in shares of The Coca-Cola Co (NYSE:KO) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 219,338 shares of the company’s stock after purchasing an additional 5,776 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in The Coca-Cola were worth $10,131,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. WP Advisors LLC purchased a new stake in shares of The Coca-Cola in the second quarter valued at approximately $107,000. Westbourne Investment Advisors Inc. purchased a new stake in shares of The Coca-Cola during the third quarter worth approximately $117,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of The Coca-Cola during the second quarter worth approximately $116,000. Fort L.P. purchased a new stake in shares of The Coca-Cola during the second quarter worth approximately $122,000. Finally, Sageworth Trust Co increased its position in shares of The Coca-Cola by 69.5% during the third quarter. Sageworth Trust Co now owns 2,927 shares of the company’s stock worth $135,000 after purchasing an additional 1,200 shares in the last quarter. 65.79% of the stock is owned by hedge funds and other institutional investors.
NYSE:KO opened at $49.38 on Wednesday. The Coca-Cola Co has a 52-week low of $41.45 and a 52-week high of $50.84. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. The company has a market cap of $215.47 billion, a P/E ratio of 25.85, a PEG ratio of 3.31 and a beta of 0.60.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s payout ratio is 81.68%.
KO has been the subject of several research reports. Royal Bank of Canada set a $56.00 price target on The Coca-Cola and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Goldman Sachs Group set a $45.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $50.00 price target on shares of The Coca-Cola in a research report on Thursday, July 26th. SunTrust Banks boosted their price target on The Coca-Cola to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Finally, Jefferies Financial Group reiterated a “neutral” rating and set a $48.00 price target on shares of The Coca-Cola in a research report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $51.43.
In other The Coca-Cola news, SVP James L. Dinkins sold 8,754 shares of the business’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total transaction of $411,000.30. Following the transaction, the senior vice president now owns 28,354 shares in the company, valued at $1,331,220.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Beatriz R. Perez sold 10,000 shares of the business’s stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $49.98, for a total value of $499,800.00. Following the transaction, the senior vice president now owns 92,645 shares in the company, valued at approximately $4,630,397.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 359,442 shares of company stock valued at $17,675,917. Company insiders own 1.48% of the company’s stock.
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The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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