Ferguson Shapiro LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Ferguson Shapiro LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 26.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,191 shares of the company’s stock after buying an additional 2,533 shares during the period. Coca-Cola accounts for 0.3% of Ferguson Shapiro LLC’s investment portfolio, making the stock its 26th largest position. Ferguson Shapiro LLC’s holdings in Coca-Cola were worth $876,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KO. New Millennium Group LLC acquired a new position in Coca-Cola in the second quarter valued at $26,000. Quarry LP purchased a new position in shares of Coca-Cola in the 2nd quarter valued at about $27,000. ESL Trust Services LLC purchased a new position in Coca-Cola in the 1st quarter valued at approximately $28,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the 1st quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. raised its position in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after buying an additional 206 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold a total of 376,096 shares of company stock valued at $25,982,352 over the last ninety days. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

NYSE:KO opened at $69.57 on Friday. The stock’s 50-day moving average is $70.51 and its 200-day moving average is $65.39. The Coca-Cola Company has a 1-year low of $52.43 and a 1-year high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $299.70 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60.

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

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.79%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analysts Set New Price Targets

KO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Morgan Stanley increased their target price on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, TD Cowen upped their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.33.

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.