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Fmr LLC Raises Position in The Coca-Cola Company (NYSE:KO)

Coca-Cola logo with Consumer Staples background

FMR LLC increased its position in The Coca-Cola Company (NYSE:KO - Free Report) by 13.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,961,376 shares of the company's stock after purchasing an additional 11,206,995 shares during the period. Coca-Cola accounts for about 0.4% of FMR LLC's investment portfolio, making the stock its 28th biggest holding. FMR LLC owned about 2.16% of Coca-Cola worth $6,680,205,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola in the 2nd quarter worth $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the 2nd quarter valued at $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola during the third quarter worth $36,000. Finally, Mount Lucas Management LP acquired a new stake in Coca-Cola during the second quarter valued at $38,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Wall Street Analyst Weigh In

KO has been the topic of several research analyst reports. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Hsbc Global Res raised Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Wells Fargo & Company raised their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, September 16th. Barclays lowered their price target on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Finally, Cfra restated a "hold" rating on shares of Coca-Cola in a research note on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Coca-Cola has an average rating of "Moderate Buy" and a consensus price target of $72.36.

Check Out Our Latest Research Report on Coca-Cola

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.97% of the company's stock.

Coca-Cola Price Performance

Coca-Cola stock traded up $0.17 during midday trading on Tuesday, hitting $64.55. 8,670,791 shares of the company's stock were exchanged, compared to its average volume of 13,536,656. The stock has a 50-day moving average price of $67.63 and a two-hundred day moving average price of $66.58. The company has a market cap of $278.07 billion, a P/E ratio of 26.58, a PEG ratio of 3.88 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating 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 business had revenue of $11.85 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The firm's revenue was down .8% on a year-over-year basis. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. Coca-Cola's payout ratio is 80.17%.

Coca-Cola Profile

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

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