The Coca-Cola Company (NYSE:KO) Stock Position Increased by Eagle Asset Management Inc.

Eagle Asset Management Inc. lifted its position in The Coca-Cola Company (NYSE:KO) by 1.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 436,780 shares of the company’s stock after buying an additional 4,691 shares during the period. Eagle Asset Management Inc.’s holdings in Coca-Cola were worth $31,387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KO. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Coca-Cola during the 3rd quarter valued at $269,382,000. Manning & Napier Advisors LLC purchased a new stake in Coca-Cola in the 2nd quarter worth about $188,448,000. Pathway Financial Advisers LLC grew its stake in Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after acquiring an additional 2,443,612 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Coca-Cola by 42.6% in the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock valued at $397,515,000 after purchasing an additional 1,866,348 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Coca-Cola by 7,792.8% during the third quarter. International Assets Investment Management LLC now owns 1,744,302 shares of the company’s stock worth $125,346,000 after purchasing an additional 1,722,202 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,881 shares of company stock worth $10,693,244. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.2 %

Shares of NYSE:KO opened at $63.92 on Friday. The company has a market cap of $275.33 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.87 and a beta of 0.61. The stock’s 50-day moving average is $67.79 and its 200-day moving average is $66.51. 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.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter last year, the company earned $0.74 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business 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 $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is presently 80.17%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KO. 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 stock an “overweight” rating in a research note on Monday, September 16th. 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 note on Wednesday, October 16th. Morgan Stanley dropped their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Company 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.