Point72 Hong Kong Ltd Raises Stock Position in The Coca-Cola Company (NYSE:KO)

Point72 Hong Kong Ltd lifted its stake in The Coca-Cola Company (NYSE:KO) by 151.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 204,773 shares of the company’s stock after purchasing an additional 123,278 shares during the period. Coca-Cola accounts for about 1.0% of Point72 Hong Kong Ltd’s investment portfolio, making the stock its 27th biggest holding. Point72 Hong Kong Ltd’s holdings in Coca-Cola were worth $14,715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of KO. FMR LLC raised its holdings in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares in the last quarter. Truist Financial Corp lifted its position in Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after acquiring an additional 177,241 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Coca-Cola by 1.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock worth $847,468,000 after acquiring an additional 222,028 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Coca-Cola by 8.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company’s stock worth $532,558,000 after purchasing an additional 640,402 shares during the period. 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 that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.2 %

Shares of Coca-Cola stock opened at $64.08 on Friday. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The company’s 50 day moving average is $67.07 and its 200 day moving average is $66.58. The company has a market cap of $276.04 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 3.89 and a beta of 0.61.

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

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KO shares. Morgan Stanley lowered their target price 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. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Barclays lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Four investment 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.36.

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.