Investors Research Corp Has $616,000 Holdings in The Coca-Cola Company (NYSE:KO)

by · The Cerbat Gem

Investors Research Corp trimmed its holdings in The Coca-Cola Company (NYSE:KO – Free Report) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,573 shares of the company’s stock after selling 350 shares during the period. Investors Research Corp’s holdings in Coca-Cola were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of KO. New Millennium Group LLC purchased a new stake in Coca-Cola during the second quarter valued at about $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the second quarter worth $27,000. Hara Capital LLC bought a new position in Coca-Cola during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola during the third quarter valued at $36,000. Finally, Mount Lucas Management LP bought a new position in Coca-Cola in the second quarter worth approximately $38,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

Shares of NYSE KO traded up $0.21 during mid-day trading on Thursday, reaching $63.20. 1,977,735 shares of the company were exchanged, compared to its average volume of 13,360,831. 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 twelve month low of $57.47 and a twelve month high of $73.53. The company’s 50-day simple moving average is $68.09 and its 200-day simple moving average is $66.52. The stock has a market capitalization of $272.25 billion, a P/E ratio of 26.04, a P/E/G ratio of 3.80 and a beta of 0.61.

Coca-Cola (NYSE:KO – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the business posted $0.74 EPS. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. As a group, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share 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 $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analyst Ratings Changes

A number of research firms have weighed in on KO. Wells Fargo & Company lifted 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. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Truist Financial raised their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Citigroup boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Check Out Our Latest Analysis on KO

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on 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 of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The trade was a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,881 shares of company stock worth $10,693,244 in the last quarter. 0.97% of the stock is owned by company insiders.

Coca-Cola Company Profile

(Free Report)

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.

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