Assenagon Asset Management S.A. Grows Position in The Coca-Cola Company (NYSE:KO)

Assenagon Asset Management S.A. grew its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 751,989 shares of the company's stock after buying an additional 112,599 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Coca-Cola were worth $46,819,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of KO. FMR LLC raised its holdings in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company's stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock valued at $2,271,885,000 after buying an additional 4,013,996 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Coca-Cola in the third quarter worth about $269,382,000. Geode Capital Management LLC lifted its holdings in Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock worth $6,664,005,000 after buying an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC boosted its position in Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company's stock valued at $178,104,000 after acquiring an additional 2,443,612 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock traded up $0.50 during trading on Thursday, hitting $62.27. 12,558,834 shares of the company's stock traded hands, compared to its average volume of 15,935,552. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The business has a 50-day simple moving average of $62.74 and a 200-day simple moving average of $66.44. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $268.23 billion, a P/E ratio of 25.73, a PEG ratio of 3.35 and a beta of 0.61.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. As a group, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. Hsbc Global Res raised Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Piper Sandler assumed coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $74.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group cut their price objective on shares of Coca-Cola from $82.00 to $72.00 and set a "buy" rating on the stock in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of "Moderate Buy" and a consensus target price of $72.60.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.97% of the company's stock.

Coca-Cola Company Profile

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.