Sanctuary Advisors LLC Acquires 158,309 Shares of The Coca-Cola Company (NYSE:KO)

Sanctuary Advisors LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 42.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 530,953 shares of the company’s stock after acquiring an additional 158,309 shares during the period. Sanctuary Advisors LLC’s holdings in Coca-Cola were worth $38,154,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the 2nd quarter valued at approximately $26,000. Quarry LP acquired a new stake in Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC bought a new stake in Coca-Cola in the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola during the third quarter worth $36,000. Finally, Mount Lucas Management LP bought a new position in shares of Coca-Cola during the second quarter valued at $38,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a research report on Thursday. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Barclays dropped their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, Morgan Stanley reduced their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Coca-Cola Price Performance

Coca-Cola stock opened at $62.63 on Thursday. The business’s 50-day simple moving average is $65.68 and its 200 day simple moving average is $66.59. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock has a market cap of $269.80 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 3.80 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results 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 company had revenue of $11.85 billion for 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 revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. As a group, 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. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

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.