GAMMA Investing LLC Has $4.36 Million Position in The Coca-Cola Company (NYSE:KO)

GAMMA Investing LLC trimmed its position in The Coca-Cola Company (NYSE:KO) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,970 shares of the company’s stock after selling 2,954 shares during the quarter. GAMMA Investing LLC’s holdings in Coca-Cola were worth $4,356,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of Coca-Cola by 27.4% in the fourth quarter. Versant Capital Management Inc now owns 8,671 shares of the company’s stock valued at $540,000 after acquiring an additional 1,867 shares in the last quarter. First Financial Bank Trust Division grew its position in shares of Coca-Cola by 2.8% during the 4th quarter. First Financial Bank Trust Division now owns 12,838 shares of the company’s stock worth $799,000 after purchasing an additional 351 shares in the last quarter. Hiley Hunt Wealth Management acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $219,000. Lord Abbett & CO. LLC boosted its stake in shares of Coca-Cola by 9.4% in the third quarter. Lord Abbett & CO. LLC now owns 2,027,396 shares of the company’s stock valued at $145,689,000 after buying an additional 174,948 shares during the period. Finally, Legacy Wealth Management LLC MS grew its position in Coca-Cola by 14.6% during the third quarter. Legacy Wealth Management LLC MS now owns 9,627 shares of the company’s stock worth $692,000 after buying an additional 1,227 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the business’s 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 transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock opened at $61.84 on Friday. The business has a 50 day moving average of $63.58 and a 200-day moving average of $66.56. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a market capitalization of $266.39 billion, a P/E ratio of 25.55, a P/E/G ratio of 3.83 and a beta of 0.61.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KO. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Morgan Stanley decreased their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

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.