The Coca-Cola Company (NYSE:KO) Shares Acquired by Freedom Day Solutions LLC

Freedom Day Solutions LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,229 shares of the company’s stock after buying an additional 160 shares during the quarter. Freedom Day Solutions LLC’s holdings in Coca-Cola were worth $1,022,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the second quarter valued at about $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the second quarter worth about $27,000. ESL Trust Services LLC purchased a new stake in Coca-Cola in the first quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola in the 1st quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. raised its position in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Down 1.0 %

KO opened at $67.30 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a twelve month low of $55.10 and a twelve month high of $73.53. The company has a market cap of $289.93 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The company has a 50-day moving average price of $70.74 and a 200 day moving average price of $65.96.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the business posted $0.74 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is 77.60%.

Insider Activity

In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 319,005 shares of company stock worth $22,198,147 over the last three months. Insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the topic of several recent research reports. Citigroup upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Barclays raised their target price on Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada boosted their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $71.87.

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.