Rakuten Securities Inc. Raises Stock Holdings in The Coca-Cola Company (NYSE:KO)

12 Nov 2024, 12:52 by Renee Jackson · The Cerbat Gem

Rakuten Securities Inc. raised its position in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 25.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,224 shares of the company’s stock after acquiring an additional 448 shares during the period. Rakuten Securities Inc.’s holdings in Coca-Cola were worth $160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of KO. Harvest Portfolios Group Inc. bought a new position in shares of Coca-Cola during the 3rd quarter valued at approximately $18,383,000. Balentine LLC grew its position in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Coca-Cola by 4.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after buying an additional 21,005 shares in the last quarter. Advisor Resource Council purchased a new stake in shares of Coca-Cola during the 3rd quarter worth $769,000. Finally, Swedbank AB purchased a new stake in shares of Coca-Cola during the 1st quarter worth $102,604,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 203,748 shares of company stock worth $14,274,431 over the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial upped their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, TD Cowen increased their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $71.80.

Read Our Latest Stock Report on Coca-Cola

Coca-Cola Stock Down 0.9 %

Shares of KO opened at $63.37 on Tuesday. 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 Coca-Cola Company has a 12 month low of $56.60 and a 12 month high of $73.53. The stock’s 50 day moving average is $69.37 and its two-hundred day moving average is $66.52. The firm has a market cap of $272.99 billion, a P/E ratio of 26.19, a PEG ratio of 3.88 and a beta of 0.61.

Coca-Cola (NYSE:KO – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company earned $0.74 earnings per share. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.06%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Coca-Cola Company Profile

(Free Report)