Vinva Investment Management Ltd Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Vinva Investment Management Ltd grew its stake in The Coca-Cola Company (NYSE:KO) by 15.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 189,235 shares of the company’s stock after buying an additional 25,922 shares during the quarter. Coca-Cola makes up approximately 0.6% of Vinva Investment Management Ltd’s portfolio, making the stock its 29th biggest position. Vinva Investment Management Ltd’s holdings in Coca-Cola were worth $13,585,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. New Millennium Group LLC purchased a new stake in Coca-Cola in the second quarter worth approximately $26,000. Quarry LP bought a new stake in shares of Coca-Cola in the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new stake in shares of Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the 3rd quarter valued at $36,000. Finally, Mount Lucas Management LP bought a new position in shares of Coca-Cola during the 2nd quarter valued at $38,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.2 %

Shares of KO stock opened at $64.43 on Thursday. The stock has a market capitalization of $277.55 billion, a P/E ratio of 26.62, a P/E/G ratio of 3.91 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm’s 50 day moving average is $67.34 and its 200 day moving average is $66.57. 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 quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the company posted $0.74 earnings per share. Coca-Cola’s revenue was down .8% compared to the same quarter last year. Research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

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

Insider Activity at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value 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. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

KO has been the subject of several recent research reports. Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Wells Fargo & Company raised their price target on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Barclays decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola 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.