The Coca-Cola Company (NYSE:KO) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 105.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 559,316 shares of the company's stock after purchasing an additional 287,167 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Coca-Cola were worth $40,192,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in Coca-Cola during the 1st quarter worth about $169,000. Freestone Capital Holdings LLC increased its holdings in Coca-Cola by 4.3% in the first quarter. Freestone Capital Holdings LLC now owns 81,866 shares of the company's stock valued at $5,009,000 after buying an additional 3,361 shares during the last quarter. Wellington Wealth Strategies LLC. purchased a new position in shares of Coca-Cola during the first quarter worth about $626,000. EP Wealth Advisors LLC grew its holdings in shares of Coca-Cola by 3.9% during the first quarter. EP Wealth Advisors LLC now owns 96,155 shares of the company's stock worth $5,883,000 after buying an additional 3,616 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in shares of Coca-Cola by 2.3% during the 1st quarter. Axxcess Wealth Management LLC now owns 177,986 shares of the company's stock worth $10,889,000 after acquiring an additional 3,926 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business'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 transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 18,484 shares of the firm's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company's stock, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,881 shares of company stock worth $10,693,244. 0.97% of the stock is owned by insiders.

Coca-Cola Trading Up 0.6 %

Shares of NYSE KO traded up $0.40 during mid-day trading on Wednesday, reaching $62.99. The company had a trading volume of 18,268,377 shares, compared to its average volume of 13,411,643. The stock has a market cap of $271.35 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 3.75 and a beta of 0.61. The business's 50-day moving average is $68.25 and its 200-day moving average is $66.55. The Coca-Cola Company has a 52 week low of $57.33 and a 52 week high of $73.53. 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 released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $11.85 billion for the quarter, compared to analysts' expectations of $11.61 billion. During the same quarter last year, the company earned $0.74 EPS. The firm's revenue for the quarter was down .8% compared to the same quarter last year. Equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, November 29th. Coca-Cola's payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial upped their price target 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 raised their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an "overweight" rating in a 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. Citigroup boosted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.36.

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.