Fidelis Capital Partners LLC Has $2.21 Million Stock Position in The Coca-Cola Company (NYSE:KO)

by · The Markets Daily

Fidelis Capital Partners LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 7.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,453 shares of the company’s stock after selling 2,693 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Coca-Cola were worth $2,207,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. New Millennium Group LLC bought a new stake in Coca-Cola during the 2nd quarter worth about $26,000. Quarry LP bought a new stake in Coca-Cola during the 2nd quarter worth about $27,000. Redmont Wealth Advisors LLC bought a new stake in Coca-Cola during the 1st quarter worth about $28,000. ESL Trust Services LLC bought a new stake in Coca-Cola during the 1st quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings 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 acquiring an additional 206 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $65.59 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company has a market capitalization of $282.54 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 3.91 and a beta of 0.60. The firm’s 50 day simple moving average is $70.54 and its 200 day simple moving average is $66.22. The Coca-Cola Company has a fifty-two week low of $55.42 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. As a group, sell-side analysts forecast 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. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.96%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred on 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 filing with the SEC, which is available through the SEC website. In other news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,074,330.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 319,005 shares of company stock worth $22,198,147. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KO. Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Wells Fargo & Company raised their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Bank of America raised their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Read Our Latest Stock Analysis on KO

About Coca-Cola

(Free Report)

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.

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