Newfound Research LLC Grows Stock Position in The Coca-Cola Company (NYSE:KO)

Newfound Research LLC grew its position in The Coca-Cola Company (NYSE:KO) by 55.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,097 shares of the company’s stock after acquiring an additional 751 shares during the quarter. Newfound Research LLC’s holdings in Coca-Cola were worth $110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Litman Gregory Asset Management LLC acquired a new stake in shares of Coca-Cola in the second quarter valued at approximately $27,000. Monumental Financial Group Inc. acquired a new stake in shares of Coca-Cola in the second quarter valued at approximately $27,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Coca-Cola in the second quarter valued at approximately $32,000. Tortoise Investment Management LLC increased its stake in Coca-Cola by 108.8% during the second quarter. Tortoise Investment Management LLC now owns 618 shares of the company’s stock worth $33,000 after acquiring an additional 322 shares during the last quarter. Finally, tru Independence LLC acquired a new stake in Coca-Cola during the second quarter worth $54,000. Institutional investors and hedge funds own 66.59% of the company’s stock.

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. set a $59.00 target price on Coca-Cola in a research note on Thursday, October 28th. Deutsche Bank Aktiengesellschaft lowered their price target on Coca-Cola from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Friday, October 15th. Evercore ISI restated a “buy” rating on shares of Coca-Cola in a research report on Tuesday, November 9th. Royal Bank of Canada raised their price target on Coca-Cola from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, October 28th. Finally, Credit Suisse Group set a $63.00 price target on Coca-Cola in a research report on Thursday, October 28th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Buy” and an average price target of $61.44.

Shares of KO traded down $0.45 during midday trading on Thursday, reaching $55.43. 12,598,154 shares of the stock were exchanged, compared to its average volume of 15,400,156. The business’s 50-day moving average price is $54.87 and its 200 day moving average price is $55.36. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.52 and a quick ratio of 1.32. The Coca-Cola Company has a twelve month low of $48.11 and a twelve month high of $57.56. The company has a market capitalization of $239.43 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 3.45 and a beta of 0.66.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, October 26th. The company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.07. Coca-Cola had a return on equity of 44.22% and a net margin of 23.31%. The business had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $9.72 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The business’s revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts expect that The Coca-Cola Company will post 2.28 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Wednesday, December 1st will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Tuesday, November 30th. Coca-Cola’s dividend payout ratio (DPR) is presently 82.35%.

In other news, COO Brian John Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $55.65, for a total transaction of $556,500.00. Following the sale, the chief operating officer now owns 144,229 shares of the company’s stock, valued at approximately $8,026,343.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy Quan sold 18,206 shares of the business’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $56.82, for a total value of $1,034,464.92. The disclosure for this sale can be found here. Insiders sold a total of 73,170 shares of company stock worth $4,135,496 in the last 90 days. 1.01% of the stock is currently owned by insiders.

About Coca-Cola

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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