Coca-Cola Company (The) $KO Stock Acquired by Keybank National Association OH

Keybank National Association OH increased its position in shares of Coca-Cola Company (The) (NYSE:KO) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,096,439 shares of the company’s stock after purchasing an additional 7,312 shares during the period. Keybank National Association OH’s holdings in Coca-Cola were worth $94,381,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of KO. Guardian Partners Inc. purchased a new stake in Coca-Cola during the 2nd quarter worth about $27,000. Horizons Wealth Management acquired a new position in shares of Coca-Cola during the 3rd quarter worth about $31,000. Atomic Invest LLC boosted its position in shares of Coca-Cola by 38.7% during the 2nd quarter. Atomic Invest LLC now owns 437 shares of the company’s stock worth $36,000 after acquiring an additional 122 shares in the last quarter. Putney Financial Group LLC acquired a new position in shares of Coca-Cola during the 3rd quarter worth about $43,000. Finally, Timbuktu Capital Management LLC purchased a new position in shares of Coca-Cola in the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $96.94 on Wednesday. Coca-Cola Company has a 1-year low of $67.27 and a 1-year high of $97.39. The stock has a market cap of $417.01 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.75 and a beta of 0.28. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.38 and a quick ratio of 1.19. The firm has a fifty day moving average price of $90.25 and a 200 day moving average price of $82.93.

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

Coca-Cola Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KO. Royal Bank Of Canada reissued an “outperform” rating and set a $96.00 target price on shares of Coca-Cola in a research report on Monday, October 26th. Morgan Stanley upped their price target on Coca-Cola from $100.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. UBS Group upped their price target on Coca-Cola from $104.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $93.00 price target (up from $83.00) on shares of Coca-Cola in a research note on Wednesday, July 29th. Finally, Barclays raised their price objective on shares of Coca-Cola from $93.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.26.

Coca-Cola News Roundup

Here are the key news stories impacting Coca-Cola this week:

• Positive Sentiment: Coca-Cola’s push into functional beverages is gaining traction, with fairlife, Powerade and smartwater growth, alongside innovation and capacity expansion, offering potential avenues for growth. Can Coca-Cola Benefit From Rising Demand for Functional Drinks?
• Positive Sentiment: Several articles emphasize KO’s durable brands and its 64-year record of dividend increases, reinforcing its appeal to long-term income investors. One report also notes Berkshire Hathaway receives about $848 million annually in dividends from its Coca-Cola investment. Coca-Cola’s Dividend Has Grown 64 Years in a Row Warren Buffett’s Coca-Cola Investment
• Neutral Sentiment: Coca-Cola India is advancing draft papers for an IPO. The report does not specify how the offering could affect KO financially. Coca-Cola India IPO moves forward with draft papers
• Neutral Sentiment: EVP Nancy Quan sold shares to cover tax withholding on vested equity awards and retained a substantial stake, making the transaction less informative as a signal about her outlook. Coca-Cola EVP Nancy Quan Sells Shares
• Negative Sentiment: Some commentary cautions that KO’s share-price gains have outpaced revisions to its earnings outlook, raising valuation concerns. Higher real Treasury yields and competing bond yields could also make dividend stocks less attractive to some investors. Coca-Cola Stock Keeps Setting Records Treasuries Now Offer 2.66% Above Inflation

Insider Activity at Coca-Cola

In related news, EVP Beatriz Perez sold 67,548 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $94.91, for a total value of $6,410,980.68. Following the completion of the sale, the executive vice president directly owned 160,428 shares of the company’s stock, valued at $15,226,221.48. This represents a 29.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Nancy Quan sold 20,585 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $95.62, for a total value of $1,968,337.70. Following the transaction, the executive vice president owned 223,330 shares in the company, valued at $21,354,814.60. This represents a 8.44% decrease in their position. 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. Insiders sold a total of 249,498 shares of company stock valued at $23,025,238 in the last three months. 0.90% of the stock is currently owned by company insiders.

Coca-Cola Company Profile

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.