The Coca-Cola Company (NYSE:KO) Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,020 shares of the company’s stock after buying an additional 280 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Coca-Cola were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of KO. Harvest Portfolios Group Inc. purchased a new stake in Coca-Cola during the third quarter worth approximately $18,383,000. Balentine LLC lifted its position in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after buying an additional 59,503 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Coca-Cola by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after buying an additional 46,541 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Coca-Cola by 4.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after acquiring an additional 21,005 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KO has been the topic of several research reports. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Morgan Stanley reduced their price objective 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. Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Four investment 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.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, 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 filing with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Price Performance

Shares of KO opened at $64.38 on Tuesday. The firm has a market capitalization of $277.34 billion, a PE ratio of 26.60, a P/E/G ratio of 3.88 and a beta of 0.61. The stock’s 50 day moving average is $67.63 and its two-hundred day moving average is $66.58. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

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

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.01%. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

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.