Lathrop Investment Management Corp Acquires 275 Shares of The Coca-Cola Company (NYSE:KO)

Lathrop Investment Management Corp grew its holdings in The Coca-Cola Company (NYSE:KO) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,253 shares of the company’s stock after buying an additional 275 shares during the period. Lathrop Investment Management Corp’s holdings in Coca-Cola were worth $1,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. New Millennium Group LLC bought a new position in Coca-Cola during the second quarter valued at $26,000. Quarry LP purchased a new stake in Coca-Cola in the 2nd quarter worth about $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $36,000. Finally, Mount Lucas Management LP purchased a new stake in shares of Coca-Cola in the second quarter worth approximately $38,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on KO shares. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Truist Financial boosted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. 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. Wells Fargo & Company boosted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Barclays reduced 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. 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Stock Up 1.2 %

Shares of KO stock opened at $63.76 on Friday. 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 company has a market cap of $274.67 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. The stock’s fifty day moving average price is $67.94 and its 200 day moving average price is $66.50. 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 released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. Coca-Cola’s revenue was down .8% compared to the same quarter last year. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Buying and Selling

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This trade represents a 7.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 160,881 shares of company stock valued at $10,693,244 over the last quarter. 0.97% of the stock is currently owned by company insiders.

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.