Traveka Wealth LLC Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Traveka Wealth LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,388 shares of the company’s stock after buying an additional 280 shares during the period. Traveka Wealth LLC’s holdings in Coca-Cola were worth $387,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Swedbank AB purchased a new position in shares of Coca-Cola during the first quarter valued at about $102,604,000. BDF Gestion purchased a new position in Coca-Cola in the second quarter worth about $7,421,000. Duality Advisers LP grew its position in Coca-Cola by 191.1% in the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after acquiring an additional 73,434 shares in the last quarter. TD Asset Management Inc lifted its stake in Coca-Cola by 0.7% in the first quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after purchasing an additional 20,048 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its stake in Coca-Cola by 11.6% in the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock worth $14,013,000 after purchasing an additional 23,500 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 376,096 shares of company stock valued at $25,982,352. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.1 %

Shares of NYSE KO traded up $0.10 during trading on Tuesday, reaching $69.11. 2,379,567 shares of the stock were exchanged, compared to its average volume of 13,227,323. The company has a market capitalization of $297.72 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The business’s 50-day moving average price is $70.40 and its 200 day moving average price is $65.21. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a twelve month low of $52.11 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.81%. Coca-Cola’s dividend payout ratio is 77.60%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KO. BNP Paribas began coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. TD Cowen boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Truist Financial boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Five equities 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.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

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.