The Coca-Cola Company (NYSE:KO) Shares Bought by Cadinha & Co. LLC

Cadinha & Co. LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 92.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,447 shares of the company’s stock after acquiring an additional 6,448 shares during the quarter. Cadinha & Co. LLC’s holdings in Coca-Cola were worth $966,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Millennium Group LLC purchased a new stake in Coca-Cola during the second quarter valued at about $26,000. Quarry LP purchased a new stake in Coca-Cola during the second quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola during the first quarter valued at about $28,000. ESL Trust Services LLC purchased a new stake in Coca-Cola during the first quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. grew its position in Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KO. Deutsche Bank Aktiengesellschaft upped their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. BNP Paribas started coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Bank of America boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Royal Bank of Canada boosted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Trading Down 0.4 %

Shares of KO traded down $0.27 during trading hours on Thursday, reaching $69.30. The stock had a trading volume of 1,559,612 shares, compared to its average volume of 13,203,409. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 52 week low of $52.43 and a 52 week high of $73.53. The firm has a 50-day moving average of $70.48 and a 200 day moving average of $65.30. The company has a market cap of $298.54 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.80%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Activity at Coca-Cola

In other news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. This trade represents a 0.00 % 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 hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,096 shares of company stock worth $25,982,352. 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.