The Coca-Cola Company (NYSE:KO) Shares Acquired by Armstrong Henry H Associates Inc.

Armstrong Henry H Associates Inc. boosted its holdings in The Coca-Cola Company (NYSE:KO) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 142,264 shares of the company’s stock after buying an additional 7,810 shares during the quarter. Coca-Cola accounts for about 0.9% of Armstrong Henry H Associates Inc.’s investment portfolio, making the stock its 11th largest position. Armstrong Henry H Associates Inc.’s holdings in Coca-Cola were worth $8,857,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Coca-Cola during the second quarter worth $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the 3rd quarter worth about $36,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola during the third quarter valued at about $43,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Coca-Cola in the third quarter worth about $58,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $61.68 on Tuesday. The company has a 50 day moving average price of $62.84 and a two-hundred day moving average price of $66.48. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The stock has a market capitalization of $265.70 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.83 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 released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (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%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Analyst Upgrades and Downgrades

KO has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Truist Financial boosted their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.60.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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 $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.97% of the stock is owned by insiders.

About Coca-Cola

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.