Sen. Sheldon Whitehouse Buys The Coca-Cola Company (NYSE:KO) Shares

Posted by Logan Wallace on Nov 10th, 2024

Senator Sheldon Whitehouse (D-Rhode Island) recently bought shares of The Coca-Cola Company (NYSE:KO). In a filing disclosed on November 07th, the Senator disclosed that they had bought between $1,001 and $15,000 in Coca-Cola stock on October 8th.

Senator Sheldon Whitehouse also recently made the following trade(s):

Purchased $15,001 – $50,000 in shares of Eli Lilly and Company (NYSE:LLY) on 10/30/2024.
Sold $1,001 – $15,000 in shares of Starbucks (NASDAQ:SBUX) on 10/29/2024.
Sold $1,001 – $15,000 in shares of Walt Disney (NYSE:DIS) on 10/29/2024.
Sold $1,001 – $15,000 in shares of Honeywell International (NASDAQ:HON) on 10/29/2024.
Sold $1,001 – $15,000 in shares of Mastercard (NYSE:MA) on 10/29/2024.
Sold $1,001 – $15,000 in shares of Verizon Communications (NYSE:VZ) on 10/29/2024.
Sold $100,001 – $250,000 in shares of Tesla (NASDAQ:TSLA) on 10/28/2024.
Sold $15,001 – $50,000 in shares of Tesla (NASDAQ:TSLA) on 10/28/2024.
Sold $15,001 – $50,000 in shares of Tesla (NASDAQ:TSLA) on 10/11/2024.
Sold $1,001 – $15,000 in shares of Celsius (NASDAQ:CELH) on 10/8/2024.

Coca-Cola Trading Up 0.4 %

NYSE KO opened at $63.92 on Friday. The Coca-Cola Company has a 12 month low of $56.06 and a 12 month high of $73.53. The stock has a 50-day simple moving average of $69.56 and a 200 day simple moving average of $66.44. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $275.35 billion, a PE ratio of 26.41, a P/E/G ratio of 3.87 and a beta of 0.61.

Coca-Cola (NYSE:KO – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. Research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

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

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,150,619.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 203,748 shares of company stock worth $14,274,431. 0.97% of the stock is owned by company insiders.

Institutional Trading of Coca-Cola

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Harvest Portfolios Group Inc. bought a new position in shares of Coca-Cola in the 3rd quarter valued at about $18,383,000. Balentine LLC grew its holdings in Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares during the period. State of Alaska Department of Revenue increased its position in Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after buying an additional 21,005 shares during the last quarter. Swedbank AB bought a new stake in Coca-Cola in the first quarter valued at approximately $102,604,000. Finally, Advisor Resource Council acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $769,000. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KO shares. Morgan Stanley decreased their price target 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. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Barclays cut their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Read Our Latest Report on Coca-Cola

About Senator Whitehouse

Sheldon Whitehouse (Democratic Party) is a member of the U.S. Senate from Rhode Island. He assumed office on January 3, 2007. His current term ends on January 3, 2025. Whitehouse (Democratic Party) is running for re-election to the U.S. Senate to represent Rhode Island. He declared candidacy for the 2024 election. Whitehouse previously served as the Rhode Island attorney general from 1999 to 2003. Before that, he was a United States attorney from 1994 to 1998. He was nominated to the position by President Bill Clinton (D). Whitehouse was a superdelegate to the 2016 Democratic National Convention from Rhode Island. He cast his vote for Hillary Clinton. As of a 2014 analysis of multiple outside rankings, Whitehouse is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills.

About Coca-Cola

(Get 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.