The Coca-Cola Company (NYSE:KO) Shares Bought by Swedbank AB

by · The Markets Daily

Swedbank AB increased its holdings in The Coca-Cola Company (NYSE:KO – Free Report) by 16.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,963,008 shares of the company’s stock after purchasing an additional 282,579 shares during the quarter. Swedbank AB’s holdings in Coca-Cola were worth $141,062,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New Millennium Group LLC purchased a new stake in Coca-Cola during the 2nd quarter worth approximately $26,000. Quarry LP purchased a new stake in Coca-Cola during the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in Coca-Cola during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Coca-Cola during the 3rd quarter worth approximately $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other news, EVP Nancy Quan sold 18,484 shares of the 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,881 shares of company stock worth $10,693,244. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.3 %

NYSE:KO opened at $63.92 on Friday. 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 stock’s fifty day moving average is $67.79 and its two-hundred day moving average is $66.54. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. The stock has a market capitalization of $275.35 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61.

Coca-Cola (NYSE:KO – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $11.61 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. Research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is currently 80.17%.

Wall Street Analysts Forecast Growth

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

Get Our Latest Analysis on Coca-Cola

About Coca-Cola

(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.

Further Reading

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