Permanent Capital Management LP Makes New $811,000 Investment in CocaCola Company (The) $KO

Permanent Capital Management LP acquired a new position in shares of CocaCola Company (The) (NYSE:KO) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 12,140 shares of the company’s stock, valued at approximately $811,000.

Other large investors also recently made changes to their positions in the company. Sard Wealth Management Group LLC lifted its holdings in CocaCola by 1.6% during the 3rd quarter. Sard Wealth Management Group LLC now owns 10,099 shares of the company’s stock worth $670,000 after purchasing an additional 162 shares during the last quarter. Westhampton Capital LLC raised its stake in CocaCola by 3.5% in the 3rd quarter. Westhampton Capital LLC now owns 26,525 shares of the company’s stock worth $1,759,000 after purchasing an additional 887 shares in the last quarter. Perigon Wealth Management LLC lifted its position in CocaCola by 6.2% during the third quarter. Perigon Wealth Management LLC now owns 138,255 shares of the company’s stock worth $9,169,000 after purchasing an additional 8,091 shares during the period. Sovereign Financial Group Inc. boosted its holdings in shares of CocaCola by 5.7% during the 3rd quarter. Sovereign Financial Group Inc. now owns 12,583 shares of the company’s stock valued at $835,000 after acquiring an additional 675 shares in the last quarter. Finally, Mayflower Financial Advisors LLC lifted its holdings in shares of CocaCola by 1.3% during the third quarter. Mayflower Financial Advisors LLC now owns 25,483 shares of the company’s stock worth $1,690,000 after purchasing an additional 338 shares during the period. Institutional investors own 70.26% of the company’s stock.

CocaCola Stock Down 0.3%

Shares of NYSE:KO opened at $69.90 on Monday. CocaCola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The business’s 50-day moving average is $70.51 and its 200-day moving average is $69.37. The company has a market capitalization of $300.69 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 3.88 and a beta of 0.39.

CocaCola (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion during the quarter. Equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, December 1st. CocaCola’s payout ratio is presently 67.55%.

Insider Buying and Selling at CocaCola

In other news, EVP Nancy Quan sold 31,625 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $71.17, for a total transaction of $2,250,751.25. Following the transaction, the executive vice president owned 223,330 shares of the company’s stock, valued at $15,894,396.10. This represents a 12.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $70.80, for a total value of $9,889,981.20. Following the completion of the sale, the executive vice president owned 58,067 shares of the company’s stock, valued at approximately $4,111,143.60. This represents a 70.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 225,252 shares of company stock valued at $15,953,007 over the last 90 days. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Piper Sandler increased their price objective on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. UBS Group reissued a “buy” rating on shares of CocaCola in a research note on Friday, December 5th. Cowen restated a “buy” rating on shares of CocaCola in a research report on Wednesday, October 22nd. TD Cowen upped their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $79.08.

CocaCola Profile

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.