Permanent Capital Management LP Purchases New Stake in CocaCola Company (The) $KO

Permanent Capital Management LP acquired a new position in shares of CocaCola Company (The) (NYSE:KO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,140 shares of the company’s stock, valued at approximately $811,000.

A number of other large investors have also recently made changes to their positions in KO. Norges Bank acquired a new stake in shares of CocaCola in the 2nd quarter worth about $3,846,270,000. Vanguard Group Inc. boosted its stake in CocaCola by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock valued at $25,996,519,000 after purchasing an additional 6,241,163 shares during the last quarter. Laurel Wealth Advisors LLC boosted its stake in CocaCola by 7,239.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,149,632 shares of the company’s stock valued at $435,086,000 after purchasing an additional 6,065,840 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in CocaCola by 343.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,486,096 shares of the company’s stock worth $297,518,000 after purchasing an additional 3,474,015 shares in the last quarter. Finally, Amundi raised its stake in shares of CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock worth $1,554,074,000 after purchasing an additional 2,922,619 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KO has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. Bank of America raised their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 7th. UBS Group reaffirmed a “buy” rating on shares of CocaCola in a report on Friday, December 5th. Piper Sandler increased their target price on shares of CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, TD Cowen raised their price target on shares of CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company’s stock. According to MarketBeat.com, CocaCola has an average rating of “Buy” and an average target price of $79.08.

Insider Activity at CocaCola

In other CocaCola news, COO Henrique Braun sold 40,390 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $70.93, for a total value of $2,864,862.70. Following the sale, the chief operating officer directly owned 62,621 shares in the company, valued at $4,441,707.53. The trade was a 39.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Max R. Levchin purchased 7,206 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were purchased at an average cost of $69.87 per share, for a total transaction of $503,483.22. Following the transaction, the director directly owned 14,267 shares in the company, valued at approximately $996,835.29. The trade was a 102.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 225,252 shares of company stock worth $15,953,007 over the last 90 days. Corporate insiders own 0.90% of the company’s stock.

CocaCola Trading Down 0.3%

Shares of CocaCola stock opened at $69.90 on Monday. The firm has a market cap of $300.69 billion, a PE ratio of 23.15, a P/E/G ratio of 3.88 and a beta of 0.39. 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 stock has a fifty day moving average price of $70.51 and a 200-day moving average price of $69.37.

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

CocaCola Dividend Announcement

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

About CocaCola

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.