Mirae Asset Global Investments Co. Ltd. Purchases 65,997 Shares of The Coca-Cola Company (NYSE:KO)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,303,741 shares of the company’s stock after buying an additional 65,997 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Coca-Cola were worth $92,628,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KO. Swedbank AB bought a new stake in shares of Coca-Cola during the 1st quarter worth $102,604,000. BDF Gestion purchased a new position in shares of Coca-Cola in the 2nd quarter worth about $7,421,000. Duality Advisers LP increased its position in shares of Coca-Cola by 191.1% during the 1st quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock valued at $6,843,000 after purchasing an additional 73,434 shares during the last quarter. TD Asset Management Inc lifted its position in Coca-Cola by 0.7% in the 1st quarter. TD Asset Management Inc now owns 2,935,238 shares of the company’s stock worth $179,578,000 after buying an additional 20,048 shares during the last quarter. Finally, New Mexico Educational Retirement Board boosted its stake in Coca-Cola by 11.6% in the first quarter. New Mexico Educational Retirement Board now owns 226,020 shares of the company’s stock worth $14,013,000 after buying an additional 23,500 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday. Royal Bank of Canada boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays decreased their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday. Five equities 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 stock. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $71.80.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,398,603.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 319,005 shares of company stock worth $22,198,147 in the last three months. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

Shares of NYSE KO opened at $66.92 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 1 year low of $55.10 and a 1 year high of $73.53. The company’s 50-day moving average is $70.66 and its 200 day moving average is $66.02. The stock has a market capitalization of $288.42 billion, a P/E ratio of 27.09, a P/E/G ratio of 3.91 and a beta of 0.60.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The business’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 78.54%.

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.