The Coca-Cola Company (NYSE:KO) Shares Bought by Sugarloaf Wealth Management LLC

Sugarloaf Wealth Management LLC increased its holdings in The Coca-Cola Company (NYSE:KO) by 10.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,786 shares of the company’s stock after buying an additional 1,911 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Coca-Cola were worth $1,232,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of KO. FMR LLC increased its holdings in shares of Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares during the period. Geode Capital Management LLC grew its position in Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Coca-Cola by 2.9% during the second quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after buying an additional 1,084,475 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of 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 during the period. Finally, Franklin Resources Inc. boosted its position in shares of Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after buying an additional 1,609,565 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KO. Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley decreased their target price 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. Piper Sandler began coverage on shares of Coca-Cola in a research report on Tuesday. They set an “overweight” rating and a $74.00 price target on the stock. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday. Finally, Wells Fargo & Company lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $72.60.

Coca-Cola Trading Down 1.3 %

KO stock traded down $0.78 during mid-day trading on Friday, reaching $60.93. 8,945,590 shares of the stock traded hands, compared to its average volume of 13,680,722. The stock’s fifty day moving average is $62.99 and its 200-day moving average is $66.48. The company has a market cap of $262.47 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.83 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.18%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

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.