The Coca-Cola Company (NYSE:KO) Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in The Coca-Cola Company (NYSE:KO) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,957,028 shares of the company’s stock after acquiring an additional 2,966,964 shares during the quarter. Coca-Cola accounts for 0.5% of Geode Capital Management LLC’s portfolio, making the stock its 24th largest position. Geode Capital Management LLC owned about 2.16% of Coca-Cola worth $6,664,005,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KO. FMR LLC boosted its position in shares of Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after buying an additional 4,013,996 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Coca-Cola in the 3rd quarter worth $269,382,000. Pathway Financial Advisers LLC lifted its holdings in shares of Coca-Cola by 7,006.8% during the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after purchasing an additional 2,443,612 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Coca-Cola by 39.7% during the third quarter. Fisher Asset Management LLC now owns 6,765,669 shares of the company’s stock valued at $486,181,000 after purchasing an additional 1,921,241 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $62.63 on Tuesday. The business has a 50-day moving average of $66.03 and a two-hundred day moving average of $66.61. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week 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 stock has a market capitalization of $269.80 billion, a P/E ratio of 25.88, a P/E/G ratio of 3.80 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping 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 business had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the company earned $0.74 earnings per share. Coca-Cola’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Analysts Set New Price Targets

Several research firms have issued reports on KO. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Truist Financial boosted their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company decreased their price objective on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, December 2nd. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Morgan Stanley decreased their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Four 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.14.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the company’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 of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.