Coca-Cola Company (The) $KO Stock Holdings Increased by Machina Capital S.A.S.

Machina Capital S.A.S. lifted its stake in Coca-Cola Company (The) (NYSE:KO) by 206.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,897 shares of the company’s stock after buying an additional 33,621 shares during the quarter. Machina Capital S.A.S.’s holdings in Coca-Cola were worth $4,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Guardian Partners Inc. bought a new position in Coca-Cola in the 2nd quarter worth approximately $27,000. Horizons Wealth Management bought a new stake in shares of Coca-Cola during the third quarter valued at approximately $31,000. Atomic Invest LLC raised its position in shares of Coca-Cola by 38.7% during the second quarter. Atomic Invest LLC now owns 437 shares of the company’s stock valued at $36,000 after buying an additional 122 shares during the last quarter. Putney Financial Group LLC bought a new stake in shares of Coca-Cola during the third quarter valued at approximately $43,000. Finally, Timbuktu Capital Management LLC purchased a new position in shares of Coca-Cola in the second quarter worth $41,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KO. Freedom Broker upped their target price on shares of Coca-Cola from $85.00 to $89.00 and gave the stock a “hold” rating in a research report on Wednesday, October 28th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $93.00 target price (up from $83.00) on shares of Coca-Cola in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $95.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Piper Sandler boosted their price target on shares of Coca-Cola from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. Finally, CICC Research boosted their price target on shares of Coca-Cola from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.26.

Coca-Cola Price Performance

KO stock opened at $97.59 on Thursday. Coca-Cola Company has a 52 week low of $67.27 and a 52 week high of $97.83. The company has a quick ratio of 1.19, a current ratio of 1.38 and a debt-to-equity ratio of 0.93. The company has a fifty day simple moving average of $90.45 and a two-hundred day simple moving average of $83.06. The firm has a market capitalization of $419.82 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 3.78 and a beta of 0.28.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Coca-Cola had a net margin of 28.65% and a return on equity of 38.79%. The business had revenue of $13.35 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period last year, the company posted $0.82 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Coca-Cola Company will post 3.34 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. Coca-Cola’s dividend payout ratio (DPR) is presently 62.35%.

Recent Coca-Cola Headlines

Investors following KO have been watching these headlines:

• Positive Sentiment: Recent commentary highlights momentum in functional beverages, including fairlife, Powerade and smartwater, as well as innovation and capacity expansion that could support growth. Can Coca-Cola Benefit From Rising Demand for Functional Drinks?
• Positive Sentiment: Articles point to KO’s durable business, strong free cash flow and 64-year dividend-growth streak. One recent comparison argues its 2.3% yield is supported by stronger business fundamentals than Kraft Heinz’s higher yield. Kraft Heinz Yields 6.6% and Coca-Cola Yields 2.3%
• Neutral Sentiment: CFO John Murphy is scheduled to present at the Morgan Stanley Global Consumer & Retail Conference on Dec. 2. The announcement provides an opportunity for investor updates but included no new financial guidance. Conference participation announcement

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 111,365 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $90.93, for a total transaction of $10,126,419.45. Following the sale, the insider directly owned 41,365 shares of the company’s stock, valued at $3,761,319.45. The trade was a 72.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Beatriz R. Perez sold 67,548 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $94.91, for a total value of $6,410,980.68. Following the sale, the executive vice president owned 160,428 shares in the company, valued at approximately $15,226,221.48. This trade represents a 29.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 249,498 shares of company stock valued at $23,025,238. Insiders own 0.90% of the company’s stock.

About Coca-Cola

The Coca-Cola Company (NYSE: KO) is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands. The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.