Quantinno Capital Management LP Acquires 63,475 Shares of The Coca-Cola Company (NYSE:KO)

Quantinno Capital Management LP lifted its holdings in The Coca-Cola Company (NYSE:KO) by 26.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 307,328 shares of the company’s stock after purchasing an additional 63,475 shares during the period. Quantinno Capital Management LP’s holdings in Coca-Cola were worth $22,085,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. RBF Capital LLC bought a new stake in Coca-Cola during the 3rd quarter worth approximately $5,030,000. Royal London Asset Management Ltd. raised its stake in Coca-Cola by 3.4% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,904,684 shares of the company’s stock worth $136,871,000 after acquiring an additional 61,801 shares during the period. Reynders McVeigh Capital Management LLC raised its stake in Coca-Cola by 8.7% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 10,021 shares of the company’s stock worth $720,000 after acquiring an additional 800 shares during the period. Polymer Capital Management HK LTD bought a new stake in Coca-Cola during the 3rd quarter worth approximately $230,000. Finally, Morse Asset Management Inc raised its stake in Coca-Cola by 25.0% during the 3rd quarter. Morse Asset Management Inc now owns 17,500 shares of the company’s stock worth $1,258,000 after acquiring an additional 3,500 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KO. Morgan Stanley cut their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company cut their price objective on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Monday. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.14.

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola 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 completion of the transaction, the chief executive officer now 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 filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Down 2.1 %

Shares of KO stock opened at $62.21 on Thursday. The stock’s fifty day moving average is $66.57 and its two-hundred day moving average is $66.58. 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 firm has a market capitalization of $267.99 billion, a P/E ratio of 25.71, a PEG ratio of 3.86 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during 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 company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company earned $0.74 EPS. Research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

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.