CCLA Investment Management boosted its position in The Coca-Cola Company (NYSE:KO - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,472,226 shares of the company's stock after acquiring an additional 457,097 shares during the period. Coca-Cola accounts for about 2.4% of CCLA Investment Management's holdings, making the stock its 7th biggest position. CCLA Investment Management owned approximately 0.06% of Coca-Cola worth $153,970,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company's stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Coca-Cola by 2.9% in the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company's stock valued at $2,463,373,000 after purchasing an additional 1,084,475 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Coca-Cola by 14.5% in 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 purchasing an additional 4,013,996 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock valued at $1,990,407,000 after purchasing an additional 1,609,565 shares in the last quarter. Institutional investors own 70.26% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on KO. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and raised their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Piper Sandler started coverage on Coca-Cola in a research report on Tuesday, January 7th. They set an "overweight" rating and a $74.00 price target for the company. Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Barclays decreased their price target on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Finally, Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $72.60.
Check Out Our Latest Analysis on KO
Insider Transactions at Coca-Cola
In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction on 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 owns 342,546 shares of the company's stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.97% of the company's stock.
Coca-Cola Stock Performance
Shares of Coca-Cola stock traded down $0.33 during trading hours on Wednesday, reaching $61.71. The company had a trading volume of 16,177,274 shares, compared to its average volume of 16,311,620. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The business has a fifty day simple moving average of $62.78 and a 200 day simple moving average of $66.47. 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 firm has a market cap of $265.83 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 3.83 and a beta of 0.61.
Coca-Cola (NYSE:KO - Get Free Report) last posted 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. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company earned $0.74 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. On average, analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.
Coca-Cola Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola's payout ratio is currently 80.17%.
Coca-Cola Company Profile
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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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