The Coca-Cola Company (NYSE:KO) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,984,953 shares of the company's stock after purchasing an additional 1,609,565 shares during the period. Franklin Resources Inc. owned about 0.65% of Coca-Cola worth $1,990,407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KO. FMR LLC boosted its stake in Coca-Cola by 13.7% during the 3rd 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 during the last quarter. Geode Capital Management LLC raised its position 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 acquiring an additional 2,966,964 shares during the period. Legal & General Group Plc lifted its position in shares of Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company's stock valued at $2,463,373,000 after buying an additional 1,084,475 shares during the last quarter. Wellington Management Group LLP boosted 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 worth $2,271,885,000 after acquiring an additional 4,013,996 shares during the period. Finally, Truist Financial Corp grew its position in Coca-Cola by 1.1% during the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company's stock worth $1,041,479,000 after buying an additional 177,241 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Coca-Cola Stock Performance

KO traded down $0.72 on Friday, reaching $63.12. The stock had a trading volume of 12,591,360 shares, compared to its average volume of 13,845,163. The business's 50-day moving average price is $65.55 and its two-hundred day moving average price is $66.57. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The company has a market cap of $271.91 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 3.81 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the business posted $0.74 earnings per share. The firm's revenue was down .8% compared to the same quarter last year. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.07%. Coca-Cola's dividend payout ratio (DPR) is presently 80.17%.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the firm'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 transaction, the chief executive officer now directly owns 342,546 shares in the company, 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 SEC, which is available through this link. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KO shares. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and boosted their target price for the stock from $68.00 to $70.00 in a research report on Thursday. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Wells Fargo & Company cut their price objective on shares of Coca-Cola from $78.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday, December 2nd. Finally, 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 report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $72.50.

About Coca-Cola

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.