Allstate Corp Has $7.58 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Allstate Corp lifted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 2,983.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,728 shares of the company's stock after buying an additional 117,780 shares during the period. Allstate Corp's holdings in Coca-Cola were worth $7,579,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Howard Capital Management Group LLC grew its position in Coca-Cola by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company's stock worth $28,716,000 after acquiring an additional 2,069 shares during the last quarter. Cynosure Group LLC grew its holdings in shares of Coca-Cola by 46.4% during the third quarter. Cynosure Group LLC now owns 5,057 shares of the company's stock worth $363,000 after purchasing an additional 1,602 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Coca-Cola by 17.1% in the third quarter. Public Sector Pension Investment Board now owns 140,909 shares of the company's stock valued at $10,126,000 after buying an additional 20,600 shares in the last quarter. Suvretta Capital Management LLC raised its holdings in shares of Coca-Cola by 5.0% in the third quarter. Suvretta Capital Management LLC now owns 588,912 shares of the company's stock valued at $42,319,000 after buying an additional 28,299 shares during the last quarter. Finally, CWS Financial Advisors LLC lifted its position in Coca-Cola by 10.1% during the 3rd quarter. CWS Financial Advisors LLC now owns 7,694 shares of the company's stock worth $553,000 after buying an additional 706 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

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Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bruno Pietracci sold 19,058 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,423 shares of company stock worth $22,263,071. Company insiders own 0.97% of the company's stock.

Analyst Ratings Changes

KO has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Piper Sandler raised their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. DZ Bank raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. Morgan Stanley increased their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and boosted their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.24.

Coca-Cola Trading Up 0.0 %

Shares of NYSE KO traded up $0.01 during midday trading on Tuesday, reaching $71.63. 5,338,539 shares of the stock were exchanged, compared to its average volume of 17,992,883. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a market capitalization of $308.28 billion, a price-to-earnings ratio of 29.00, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The business has a 50-day simple moving average of $67.95 and a two-hundred day simple moving average of $66.38.

Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, equities research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola's dividend payout ratio is presently 82.59%.

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.