Fmr LLC Purchases 11,206,995 Shares of The Coca-Cola Company (NYSE:KO)

Fmr LLC grew its position in The Coca-Cola Company (NYSE:KO) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,961,376 shares of the company’s stock after acquiring an additional 11,206,995 shares during the period. Coca-Cola comprises about 0.4% of Fmr LLC’s portfolio, making the stock its 28th largest holding. Fmr LLC’s holdings in Coca-Cola were worth $6,680,205,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Dai ichi Life Insurance Company Ltd lifted its stake in Coca-Cola by 5.8% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 535,140 shares of the company’s stock valued at $38,455,000 after purchasing an additional 29,363 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Coca-Cola by 17.4% in the third quarter. The Manufacturers Life Insurance Company now owns 2,810,705 shares of the company’s stock valued at $201,977,000 after buying an additional 417,353 shares during the period. Bank of Montreal Can lifted its position in shares of Coca-Cola by 3.7% in the third quarter. Bank of Montreal Can now owns 8,055,109 shares of the company’s stock valued at $578,276,000 after buying an additional 289,825 shares during the last quarter. Capital Square LLC boosted its stake in shares of Coca-Cola by 4.6% during the 3rd quarter. Capital Square LLC now owns 8,961 shares of the company’s stock worth $644,000 after acquiring an additional 395 shares during the period. Finally, Horizon Kinetics Asset Management LLC increased its holdings in shares of Coca-Cola by 4.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 6,020 shares of the company’s stock worth $433,000 after acquiring an additional 280 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO opened at $64.38 on Tuesday. The firm’s 50 day simple moving average is $67.63 and its 200 day simple moving average is $66.58. The firm has a market capitalization of $277.34 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 3.88 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 1 year low of $57.47 and a 1 year high of $73.53.

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

Coca-Cola Dividend Announcement

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 given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KO. Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a research note 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 note on Monday, September 16th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

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.