Noesis Capital Mangement Corp Purchases Shares of 3,237 The Coca-Cola Company (NYSE:KO)

Noesis Capital Mangement Corp acquired a new position in The Coca-Cola Company (NYSE:KO) in the 3rd quarter, Holdings Channel reports. The firm acquired 3,237 shares of the company’s stock, valued at approximately $233,000.

A number of other hedge funds have also made changes to their positions in KO. New Millennium Group LLC purchased a new position in Coca-Cola in the 2nd quarter worth approximately $26,000. Quarry LP purchased a new stake in shares of Coca-Cola during the second quarter valued at approximately $27,000. Hara Capital LLC acquired a new position in shares of Coca-Cola during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the third quarter valued at $36,000. Finally, Mount Lucas Management LP acquired a new stake in Coca-Cola during the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Morgan Stanley lowered their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Finally, Barclays decreased their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Stock Down 0.2 %

KO stock opened at $64.43 on Thursday. The firm has a fifty day moving average price of $67.34 and a two-hundred day moving average price of $66.57. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The firm has a market cap of $277.55 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. Research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

About Coca-Cola

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.