Sunpointe LLC Acquires Shares of 5,489 The Coca-Cola Company (NYSE:KO)

Sunpointe LLC bought a new position in shares of The Coca-Cola Company (NYSE:KO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,489 shares of the company’s stock, valued at approximately $323,000.

Several other institutional investors and hedge funds have also made changes to their positions in KO. Morgan Stanley raised its position in shares of Coca-Cola by 2.5% in the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after purchasing an additional 1,950,146 shares in the last quarter. Norges Bank bought a new position in Coca-Cola during the 4th quarter valued at $2,808,056,000. Northern Trust Corp grew its holdings in Coca-Cola by 4.8% during the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after acquiring an additional 2,040,664 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Coca-Cola by 7.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock worth $2,390,448,000 after purchasing an additional 2,893,061 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Coca-Cola by 8.2% in the 3rd quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock valued at $1,446,822,000 after purchasing an additional 1,963,963 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KO has been the subject of a number of research analyst reports. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Argus raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Morgan Stanley boosted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday. Finally, UBS Group increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.55.

Coca-Cola Price Performance

KO stock traded up $0.04 during trading on Friday, hitting $62.55. The company had a trading volume of 8,093,386 shares, compared to its average volume of 13,093,686. The business has a 50 day moving average of $61.85 and a 200 day moving average of $60.45. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $269.46 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 3.55 and a beta of 0.59. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.36.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,774 shares of company stock worth $8,952,720. 0.97% of the stock is owned by insiders.

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.