Lmcg Investments LLC Boosts Holdings in The Coca-Cola Company (NYSE:KO)

Lmcg Investments LLC lifted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 433,801 shares of the company's stock after purchasing an additional 26,343 shares during the period. Coca-Cola accounts for 1.9% of Lmcg Investments LLC's portfolio, making the stock its 8th largest position. Lmcg Investments LLC's holdings in Coca-Cola were worth $31,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of KO. Price T Rowe Associates Inc. MD grew its holdings in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company's stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the period. Legal & General Group Plc grew its holdings in Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company's stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares during the period. Truist Financial Corp grew its holdings in Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company's stock worth $1,041,479,000 after acquiring an additional 177,241 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Coca-Cola by 30.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company's stock worth $776,924,000 after acquiring an additional 2,964,850 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Coca-Cola by 15.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company's stock worth $638,344,000 after acquiring an additional 1,417,930 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Coca-Cola Stock Down 0.5 %

NYSE:KO traded down $0.30 during trading hours on Friday, reaching $65.01. 12,163,094 shares of the stock were exchanged, compared to its average volume of 13,255,312. The Coca-Cola Company has a twelve month low of $56.06 and a twelve month high of $73.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a 50 day moving average of $70.29 and a 200 day moving average of $66.32. The stock has a market cap of $280.05 billion, a PE ratio of 26.86, a PEG ratio of 4.00 and a beta of 0.60.

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 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 company 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 business posted $0.74 EPS. The business's revenue was down .8% compared to the same quarter last year. On average, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola's dividend payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on KO shares. 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. Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a report on Friday, September 27th. Cfra reiterated a "hold" rating on shares of Coca-Cola in a report on Thursday, September 5th. Citigroup boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Finally, Truist Financial boosted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Coca-Cola currently has a consensus rating of "Moderate Buy" and an average target price of $71.80.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the 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 owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nancy Quan sold 18,484 shares of the 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 owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Chang sold 40,334 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 261,870 shares of company stock worth $18,256,369 in the last 90 days. Corporate 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.