Renaissance Technologies LLC Increases Holdings in The Coca-Cola Co (KO)

Renaissance Technologies LLC raised its position in shares of The Coca-Cola Co (NYSE:KO) by 37.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,045,500 shares of the company’s stock after buying an additional 1,091,800 shares during the quarter. Renaissance Technologies LLC owned about 0.09% of The Coca-Cola worth $186,862,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Connors Investor Services Inc. increased its position in The Coca-Cola by 43.9% in the 3rd quarter. Connors Investor Services Inc. now owns 100,696 shares of the company’s stock valued at $4,651,000 after acquiring an additional 30,730 shares during the period. Cpwm LLC increased its position in The Coca-Cola by 26.8% in the 3rd quarter. Cpwm LLC now owns 14,224 shares of the company’s stock valued at $657,000 after acquiring an additional 3,002 shares during the period. OppenheimerFunds Inc. increased its position in The Coca-Cola by 3.2% in the 3rd quarter. OppenheimerFunds Inc. now owns 4,297,397 shares of the company’s stock valued at $198,497,000 after acquiring an additional 132,736 shares during the period. People s United Financial Inc. increased its position in The Coca-Cola by 4.3% in the 3rd quarter. People s United Financial Inc. now owns 195,246 shares of the company’s stock valued at $9,020,000 after acquiring an additional 8,002 shares during the period. Finally, Mainstay Capital Management LLC ADV increased its position in The Coca-Cola by 2,588.8% in the 3rd quarter. Mainstay Capital Management LLC ADV now owns 16,805 shares of the company’s stock valued at $776,000 after acquiring an additional 16,180 shares during the period. Hedge funds and other institutional investors own 65.67% of the company’s stock.

A number of equities analysts have issued reports on the company. Barclays reaffirmed a “buy” rating and set a $50.00 price target on shares of The Coca-Cola in a research note on Friday, October 5th. Zacks Investment Research lowered The Coca-Cola from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. HSBC reaffirmed a “buy” rating and set a $64.00 price target on shares of The Coca-Cola in a research note on Wednesday, October 31st. Jefferies Financial Group set a $48.00 price target on The Coca-Cola and gave the company a “neutral” rating in a research note on Thursday, September 6th. Finally, ValuEngine raised The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company. The Coca-Cola presently has a consensus rating of “Hold” and a consensus price target of $51.43.

In other news, VP Kathy N. Waller sold 88,400 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $50.00, for a total transaction of $4,420,000.00. Following the completion of the sale, the vice president now directly owns 256,421 shares of the company’s stock, valued at approximately $12,821,050. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP James L. Dinkins sold 8,754 shares of the firm’s stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $46.95, for a total value of $411,000.30. Following the sale, the senior vice president now directly owns 28,354 shares of the company’s stock, valued at $1,331,220.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 374,542 shares of company stock valued at $18,436,957. Corporate insiders own 1.48% of the company’s stock.

KO opened at $49.09 on Friday. The firm has a market cap of $210.65 billion, a PE ratio of 25.70, a P/E/G ratio of 3.23 and a beta of 0.61. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.06 and a quick ratio of 0.98. The Coca-Cola Co has a fifty-two week low of $41.45 and a fifty-two week high of $50.84.

The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, October 30th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.03. The business had revenue of $8.25 billion during the quarter, compared to analyst estimates of $8.20 billion. The Coca-Cola had a return on equity of 43.12% and a net margin of 8.70%. The company’s revenue was down 9.2% compared to the same quarter last year. During the same period last year, the company posted $0.50 EPS. Equities research analysts forecast that The Coca-Cola Co will post 2.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, November 29th. The Coca-Cola’s dividend payout ratio is presently 81.68%.

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The Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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