Investment Management Corp of Ontario Buys 197,635 Shares of The Coca-Cola Company (NYSE:KO)

Investment Management Corp of Ontario lifted its position in The Coca-Cola Company (NYSE:KO - Free Report) by 95.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 403,787 shares of the company's stock after buying an additional 197,635 shares during the quarter. Coca-Cola comprises approximately 0.6% of Investment Management Corp of Ontario's holdings, making the stock its 24th largest position. Investment Management Corp of Ontario's holdings in Coca-Cola were worth $29,016,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KO. FMR LLC boosted its position in shares of 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 acquiring an additional 11,206,995 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Coca-Cola by 2.9% in 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 purchasing an additional 1,084,475 shares during the period. Truist Financial Corp raised its holdings in shares of Coca-Cola by 1.1% in the 2nd 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. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Coca-Cola by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company's stock worth $847,468,000 after buying an additional 222,028 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in Coca-Cola by 8.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company's stock valued at $532,558,000 after acquiring an additional 640,402 shares during the period. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Coca-Cola

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

Wall Street Analysts Forecast Growth

KO has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Barclays reduced 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 report on Friday, October 25th. Cfra reaffirmed a "hold" rating on shares of Coca-Cola in a report on Thursday, September 5th. Hsbc Global Res upgraded Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company cut their price objective on Coca-Cola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of "Moderate Buy" and a consensus price target of $72.14.

Coca-Cola Stock Down 0.2 %

KO stock traded down $0.12 during midday trading on Tuesday, hitting $63.53. The company's stock had a trading volume of 24,870,474 shares, compared to its average volume of 13,602,822. The stock has a market capitalization of $273.67 billion, a P/E ratio of 26.25, a PEG ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company's fifty day moving average price is $66.75 and its 200 day moving average price is $66.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

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

Coca-Cola Announces Dividend

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 given a $0.485 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. Coca-Cola's payout ratio is 80.17%.

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.