NorthCrest Asset Manangement LLC Purchases 1,698 Shares of The Coca-Cola Company (NYSE:KO)

NorthCrest Asset Manangement LLC boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 14.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,613 shares of the company’s stock after acquiring an additional 1,698 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Coca-Cola were worth $978,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of KO. Price T Rowe Associates Inc. MD boosted its holdings in Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after buying an additional 2,964,850 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Coca-Cola during the second quarter worth about $188,448,000. M&G Plc bought a new position in Coca-Cola during the first quarter valued at about $157,087,000. Finally, Raymond James & Associates raised its holdings in Coca-Cola by 42.6% in the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after acquiring an additional 1,866,348 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

Shares of KO stock opened at $66.92 on Monday. The Coca-Cola Company has a 52 week low of $55.10 and a 52 week high of $73.53. The stock has a market capitalization of $288.29 billion, a PE ratio of 26.77, a PEG ratio of 3.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock’s fifty day moving average is $70.66 and its 200-day moving average is $66.11.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data 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 net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue was down .8% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 18,482 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 319,005 shares of company stock valued at $22,198,147. 0.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley reduced 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. Bank of America upped their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.80.

Coca-Cola Company 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.