Perpetual Ltd Has $1.22 Million Position in CocaCola Company (The) $KO

Perpetual Ltd reduced its holdings in CocaCola Company (The) (NYSE:KO) by 29.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,417 shares of the company’s stock after selling 7,621 shares during the period. Perpetual Ltd’s holdings in CocaCola were worth $1,221,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KO. Brighton Jones LLC increased its holdings in CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after buying an additional 4,591 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares in the last quarter. Algert Global LLC bought a new stake in CocaCola in the first quarter valued at about $253,000. T. Rowe Price Investment Management Inc. acquired a new position in CocaCola in the first quarter worth about $481,000. Finally, AlphaQuest LLC lifted its stake in CocaCola by 123.6% during the first quarter. AlphaQuest LLC now owns 10,387 shares of the company’s stock worth $744,000 after purchasing an additional 5,741 shares during the period. 70.26% of the stock is owned by institutional investors.

CocaCola Price Performance

Shares of KO stock opened at $70.10 on Friday. CocaCola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The stock has a market capitalization of $301.53 billion, a PE ratio of 23.21, a PEG ratio of 3.89 and a beta of 0.39. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. The stock’s fifty day moving average is $70.26 and its 200-day moving average is $69.45.

CocaCola (NYSE:KO) last issued its quarterly earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The business had revenue of $11.40 billion for the quarter. Equities research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, December 1st. CocaCola’s dividend payout ratio is 67.55%.

Insiders Place Their Bets

In other news, Director Max R. Levchin bought 7,206 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was bought at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the completion of the transaction, the director directly owned 14,267 shares in the company, valued at $996,835.29. The trade was a 102.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Manuel Arroyo sold 139,689 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the transaction, the executive vice president directly owned 58,067 shares in the company, valued at $4,111,143.60. This trade represents a 70.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 225,252 shares of company stock valued at $15,953,007 over the last quarter. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KO shares. Barclays reiterated an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Wells Fargo & Company increased their price objective on CocaCola from $75.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Piper Sandler boosted their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Finally, TD Cowen lifted their price target on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $79.08.

About CocaCola

The Coca?Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca?Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready?to?drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca?Cola’s brand portfolio includes widely recognized names such as Coca?Cola, Diet Coke, Coca?Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.