The Coca-Cola Company (NYSE:KO) Shares Acquired by Suvretta Capital Management LLC

Suvretta Capital Management LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 588,912 shares of the company’s stock after purchasing an additional 28,299 shares during the period. Coca-Cola comprises approximately 1.4% of Suvretta Capital Management LLC’s holdings, making the stock its 26th largest position. Suvretta Capital Management LLC’s holdings in Coca-Cola were worth $42,319,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in shares of Coca-Cola in the 2nd quarter valued at about $26,000. Quarry LP acquired a new position in Coca-Cola during the second quarter worth about $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at approximately $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

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

Coca-Cola Price Performance

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

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. Equities research analysts expect 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 given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a 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%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley dropped 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. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Truist Financial lifted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

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.