Biglari Sardar Has $7.66 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Biglari Sardar raised its position in shares of The Coca-Cola Company (NYSE:KO) by 3.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,634 shares of the company’s stock after purchasing an additional 3,931 shares during the period. Coca-Cola makes up approximately 16.3% of Biglari Sardar’s holdings, making the stock its 2nd largest holding. Biglari Sardar’s holdings in Coca-Cola were worth $7,663,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Apella Capital LLC grew its position in shares of Coca-Cola by 1.4% during the 3rd quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock valued at $748,000 after acquiring an additional 146 shares during the period. Investment Advisory Group LLC raised its stake in shares of Coca-Cola by 4.5% during the 3rd quarter. Investment Advisory Group LLC now owns 3,378 shares of the company’s stock worth $243,000 after buying an additional 146 shares during the period. Elwood & Goetz Wealth Advisory Group LLC grew its stake in Coca-Cola by 2.2% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after acquiring an additional 149 shares during the period. CCG Wealth Management LLC raised its position in Coca-Cola by 4.3% during the third quarter. CCG Wealth Management LLC now owns 3,614 shares of the company’s stock worth $260,000 after acquiring an additional 149 shares during the period. Finally, Investment Partners Asset Management Inc. raised its position in shares of Coca-Cola by 2.2% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock worth $500,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.5 %

NYSE:KO opened at $64.08 on Monday. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. The stock’s fifty day moving average is $67.07 and its two-hundred day moving average is $66.61. The stock has a market capitalization 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. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last announced its 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 for the quarter was down .8% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. Research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KO shares. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Barclays decreased their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Wells Fargo & Company increased their target price 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. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.36.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.