The Coca-Cola Company (NYSE:KO) Shares Bought by Cerity Partners LLC

Cerity Partners LLC boosted its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 16.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 932,102 shares of the company's stock after acquiring an additional 130,626 shares during the period. Cerity Partners LLC's holdings in Coca-Cola were worth $66,996,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. acquired a new position in shares of Coca-Cola in the 3rd quarter valued at $18,383,000. Balentine LLC boosted its holdings in shares of Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company's stock valued at $2,048,000 after buying an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company's stock valued at $8,351,000 after buying an additional 59,503 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Coca-Cola by 5.8% in the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company's stock valued at $61,122,000 after buying an additional 46,541 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Coca-Cola by 4.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company's stock valued at $32,895,000 after buying an additional 21,005 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Morgan Stanley reduced their price target on shares of Coca-Cola from $78.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Cfra reiterated a "hold" rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company upped their price target 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. Finally, Barclays reduced their price target on shares of Coca-Cola from $74.00 to $73.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $72.36.

Insider Activity

In other news, CEO James Quincey sold 42,397 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 8.74 % decrease in their position. 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 stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 223,330 shares in the company, 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. Insiders sold 160,881 shares of company stock worth $10,693,244 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Up 0.3 %

Shares of Coca-Cola stock opened at $63.92 on Friday. The firm has a fifty day moving average of $67.79 and a two-hundred day moving average of $66.54. 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 company has a market cap of $275.35 billion, a P/E ratio of 26.41, a PEG ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a one year low of $57.47 and a one year high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last announced 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. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business's revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. On average, analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.485 dividend. 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 dividend payout ratio is presently 80.17%.

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.

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