Marco Investment Management LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 274,776 shares of the company's stock after selling 15,196 shares during the period. Coca-Cola makes up about 1.7% of Marco Investment Management LLC's portfolio, making the stock its 20th biggest position. Marco Investment Management LLC's holdings in Coca-Cola were worth $19,745,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of KO. Legal & General Group Plc boosted its position in 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 buying an additional 1,084,475 shares during the last quarter. Truist Financial Corp increased its stake 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 valued at $1,041,479,000 after purchasing an additional 177,241 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Coca-Cola by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company's stock worth $847,468,000 after purchasing an additional 222,028 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Coca-Cola by 8.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company's stock worth $532,558,000 after purchasing an additional 640,402 shares during the period. Finally, Bank of Montreal Can boosted its position in Coca-Cola by 7.5% during the second quarter. Bank of Montreal Can now owns 7,765,284 shares of the company's stock worth $496,202,000 after purchasing an additional 542,531 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.
Coca-Cola Trading Up 0.3 %
Coca-Cola stock traded up $0.16 during mid-day trading on Friday, hitting $63.92. The company's stock had a trading volume of 19,562,231 shares, compared to its average volume of 15,164,770. The stock's fifty day moving average is $67.79 and its two-hundred day moving average is $66.57. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $275.35 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53.
Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 the consensus estimate of $11.61 billion. During the same period last year, the company earned $0.74 EPS. The company's quarterly revenue was down .8% on a year-over-year basis. On average, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.
Coca-Cola Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.04%. Coca-Cola's payout ratio is currently 80.17%.
Insider Activity at Coca-Cola
In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, 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 filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the company's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,881 shares of company stock worth $10,693,244. Insiders own 0.97% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on KO. Cfra reaffirmed a "hold" rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. Hsbc Global Res upgraded shares of Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Finally, Barclays lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of "Moderate Buy" and a consensus price target of $72.36.
Get Our Latest Stock Analysis on Coca-Cola
Coca-Cola Company 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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