Encompass More Asset Management Buys New Holdings in The Coca-Cola Company (NYSE:KO)

Encompass More Asset Management purchased a new position in shares of The Coca-Cola Company (NYSE:KO) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,653 shares of the company’s stock, valued at approximately $406,000.

Other large investors also recently modified their holdings of the company. Edgestream Partners L.P. grew its stake in Coca-Cola by 208.4% during the third quarter. Edgestream Partners L.P. now owns 37,645 shares of the company’s stock worth $2,705,000 after buying an additional 25,440 shares during the period. Acropolis Investment Management LLC lifted its holdings in shares of Coca-Cola by 15.6% during the 3rd quarter. Acropolis Investment Management LLC now owns 6,654 shares of the company’s stock valued at $478,000 after acquiring an additional 898 shares in the last quarter. L.M. Kohn & Company boosted its position in Coca-Cola by 15.3% during the 3rd quarter. L.M. Kohn & Company now owns 15,715 shares of the company’s stock worth $1,129,000 after purchasing an additional 2,087 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Coca-Cola by 37.8% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,088,135 shares of the company’s stock valued at $221,913,000 after purchasing an additional 846,702 shares during the period. Finally, Circle Wealth Management LLC lifted its stake in shares of Coca-Cola by 5.8% during the third quarter. Circle Wealth Management LLC now owns 6,137 shares of the company’s stock worth $441,000 after purchasing an additional 337 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of KO opened at $64.12 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The business’s fifty day moving average price is $67.07 and its 200 day moving average price is $66.56. The stock has a market capitalization of $276.22 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 EPS. Equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. 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 payout ratio is 80.17%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the 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 sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of a number of recent research reports. Morgan Stanley lowered their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.