Meiji Yasuda Life Insurance Co Acquires 4,872 Shares of The Coca-Cola Company (NYSE:KO)

Meiji Yasuda Life Insurance Co lifted its holdings in The Coca-Cola Company (NYSE:KO) by 3.0% in the second quarter, Holdings Channel reports. The fund owned 169,030 shares of the company’s stock after purchasing an additional 4,872 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Coca-Cola were worth $10,759,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. raised its position in Coca-Cola by 5.6% in the 4th quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock worth $941,000 after purchasing an additional 841 shares during the period. Accretive Wealth Partners LLC raised its position in Coca-Cola by 1.4% in the 4th quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock worth $1,523,000 after purchasing an additional 351 shares during the period. Aveo Capital Partners LLC raised its position in Coca-Cola by 13.9% in the 4th quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock worth $572,000 after purchasing an additional 1,182 shares during the period. Gryphon Financial Partners LLC raised its position in Coca-Cola by 72.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock worth $1,034,000 after purchasing an additional 7,521 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position in Coca-Cola by 10.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 8,604 shares of the company’s stock worth $507,000 after purchasing an additional 820 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Over the last three months, insiders have sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of KO stock opened at $71.80 on Wednesday. The firm has a market cap of $309.31 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.93 and a beta of 0.60. The company’s 50 day moving average is $68.65 and its 200 day moving average is $64.13. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KO. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Truist Financial raised their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Morgan Stanley raised their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Wells Fargo & Company raised their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, TD Cowen raised their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.07.

About Coca-Cola

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.