Monument Capital Management raised its holdings in shares of The Coca-Cola Co (NYSE:KO) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,636 shares of the company’s stock after buying an additional 3,853 shares during the period. The Coca-Cola comprises 1.6% of Monument Capital Management’s investment portfolio, making the stock its 11th largest position. Monument Capital Management’s holdings in The Coca-Cola were worth $2,974,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC purchased a new stake in shares of The Coca-Cola during the second quarter valued at approximately $25,000. LFA Lugano Financial Advisors SA raised its stake in shares of The Coca-Cola by 348.8% during the second quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock valued at $28,000 after purchasing an additional 429 shares during the period. Redhawk Wealth Advisors Inc. purchased a new stake in shares of The Coca-Cola during the second quarter valued at approximately $36,000. Proffitt & Goodson Inc. purchased a new stake in shares of The Coca-Cola during the third quarter valued at approximately $44,000. Finally, Prime Capital Investment Advisors LLC raised its stake in shares of The Coca-Cola by 49.6% during the second quarter. Prime Capital Investment Advisors LLC now owns 905 shares of the company’s stock valued at $46,000 after purchasing an additional 300 shares during the period. 67.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:KO traded down $0.55 during midday trading on Monday, reaching $54.23. The company had a trading volume of 12,864,823 shares, compared to its average volume of 13,333,517. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71. The stock’s fifty day moving average price is $54.29 and its 200-day moving average price is $51.51. The stock has a market capitalization of $230.01 billion, a P/E ratio of 26.07, a PEG ratio of 3.74 and a beta of 0.45. The Coca-Cola Co has a one year low of $44.42 and a one year high of $55.92.
The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Friday, October 18th. The company reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. The business had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.42 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. As a group, sell-side analysts forecast that The Coca-Cola Co will post 2.1 earnings per share for the current year.
In other The Coca-Cola news, insider Nikolaos Koumettis sold 146,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $54.31, for a total transaction of $7,929,260.00. Following the completion of the sale, the insider now owns 244,451 shares in the company, valued at $13,276,133.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Beatriz R. Perez sold 14,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $53.40, for a total transaction of $747,600.00. Following the sale, the senior vice president now owns 108,457 shares of the company’s stock, valued at approximately $5,791,603.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 429,638 shares of company stock valued at $23,411,372. Insiders own 1.33% of the company’s stock.
A number of analysts have recently issued reports on KO shares. Credit Suisse Group lifted their price objective on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. ValuEngine lowered shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. set a $59.00 price objective on shares of The Coca-Cola and gave the company a “neutral” rating in a research note on Friday. Royal Bank of Canada reiterated a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. Finally, Guggenheim set a $59.00 price objective on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Friday. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The Coca-Cola has a consensus rating of “Hold” and a consensus target price of $54.65.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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