GAMMA Investing LLC Has $4.36 Million Holdings in The Coca-Cola Company (NYSE:KO)

GAMMA Investing LLC decreased its stake in The Coca-Cola Company (NYSE:KO) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,970 shares of the company’s stock after selling 2,954 shares during the quarter. GAMMA Investing LLC’s holdings in Coca-Cola were worth $4,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its stake in Coca-Cola by 27.4% during the 4th quarter. Versant Capital Management Inc now owns 8,671 shares of the company’s stock worth $540,000 after acquiring an additional 1,867 shares during the last quarter. First Financial Bank Trust Division raised its holdings in Coca-Cola by 2.8% in the fourth quarter. First Financial Bank Trust Division now owns 12,838 shares of the company’s stock worth $799,000 after purchasing an additional 351 shares during the period. Hiley Hunt Wealth Management bought a new position in shares of Coca-Cola during the third quarter worth $219,000. Lord Abbett & CO. LLC grew its holdings in shares of Coca-Cola by 9.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 2,027,396 shares of the company’s stock valued at $145,689,000 after buying an additional 174,948 shares during the period. Finally, Legacy Wealth Management LLC MS increased its position in shares of Coca-Cola by 14.6% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 9,627 shares of the company’s stock valued at $692,000 after buying an additional 1,227 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company dropped their price objective on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, December 2nd. Three 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.50.

Coca-Cola Stock Down 0.7 %

NYSE:KO opened at $61.84 on Friday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The firm has a market capitalization of $266.39 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61. 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’s 50 day moving average price is $63.58 and its two-hundred day moving average price is $66.56.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping 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 business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.