M&T Bank Corp Has $119.53 Million Stake in The Coca-Cola Company (NYSE:KO)

M&T Bank Corp decreased its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,663,352 shares of the company's stock after selling 192,527 shares during the quarter. M&T Bank Corp's holdings in Coca-Cola were worth $119,528,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of Coca-Cola by 13.7% during the third 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 during the period. Geode Capital Management LLC boosted its stake in Coca-Cola by 3.3% during the 3rd 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 during the period. Legal & General Group Plc grew its position in Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company's stock worth $2,463,373,000 after purchasing an additional 1,084,475 shares during the last quarter. Wellington Management Group LLP increased its stake 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 during the period. Finally, Truist Financial Corp boosted its position in shares of 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 during the period. Institutional investors own 70.26% of the company's stock.

Coca-Cola Trading Up 0.2 %

Coca-Cola stock opened at $62.55 on Friday. The Coca-Cola Company has a 52 week low of $57.47 and a 52 week high of $73.53. 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 firm has a market capitalization of $269.45 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 3.81 and a beta of 0.61. The company has a 50 day moving average price of $64.76 and a 200 day moving average price of $66.60.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. Research analysts forecast 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 was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.10%. Coca-Cola's dividend payout ratio is presently 80.17%.

Analysts Set New Price Targets

Several analysts recently commented on KO shares. Cfra restated a "hold" rating on shares of Coca-Cola in a research report on Thursday, September 5th. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded shares of Coca-Cola to a "strong-buy" rating in a research report on Friday, September 27th. Wells Fargo & Company dropped their price target 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, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coca-Cola currently has an average rating of "Moderate Buy" and an average price target of $72.50.

Insiders Place Their Bets

In related news, CEO James Quincey sold 100,000 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value 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. The trade was a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.97% of the company's stock.

Coca-Cola Profile

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.