Cynosure Group LLC Has $363,000 Stake in The Coca-Cola Company (NYSE:KO)

Cynosure Group LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 46.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,057 shares of the company’s stock after buying an additional 1,602 shares during the quarter. Cynosure Group LLC’s holdings in Coca-Cola were worth $363,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KO. Harvest Portfolios Group Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth $18,383,000. Balentine LLC lifted its position in Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC grew its stake in Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Coca-Cola by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after buying an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after buying an additional 21,005 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of several analyst reports. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial lifted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Morgan Stanley lowered their target price 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. Four research 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 stock has an average rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Price Performance

KO stock opened at $64.43 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53. The company has a market capitalization of $277.55 billion, a P/E ratio of 26.62, a PEG ratio of 3.91 and a beta of 0.61. The company has a fifty day moving average price of $67.22 and a 200-day moving average price of $66.56.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 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.