Bank of Montreal Can Buys 289,825 Shares of The Coca-Cola Company (NYSE:KO)

Bank of Montreal Can raised its position in The Coca-Cola Company (NYSE:KO) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,055,109 shares of the company’s stock after purchasing an additional 289,825 shares during the quarter. Bank of Montreal Can’s holdings in Coca-Cola were worth $578,276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mount Yale Investment Advisors LLC lifted its holdings in shares of Coca-Cola by 33.0% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 12,534 shares of the company’s stock worth $767,000 after buying an additional 3,111 shares during the period. Silvercrest Asset Management Group LLC raised its stake in Coca-Cola by 0.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 428,062 shares of the company’s stock valued at $26,189,000 after buying an additional 3,008 shares during the last quarter. Ilex Capital Partners UK LLP boosted its holdings in Coca-Cola by 117.3% in the first quarter. Ilex Capital Partners UK LLP now owns 1,874,536 shares of the company’s stock worth $114,684,000 after acquiring an additional 1,011,956 shares in the last quarter. Prudent Investors Network Inc. purchased a new stake in shares of Coca-Cola during the first quarter worth about $6,604,000. Finally, Ancora Advisors LLC increased its holdings in shares of Coca-Cola by 8.0% during the first quarter. Ancora Advisors LLC now owns 46,528 shares of the company’s stock valued at $2,847,000 after acquiring an additional 3,435 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction 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 transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Stock Up 1.0 %

KO traded up $0.62 on Monday, hitting $64.54. 2,016,789 shares of the company were exchanged, compared to its average volume of 13,408,454. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The company has a market cap of $278.03 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth 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 firm has a 50-day moving average price of $67.79 and a two-hundred day moving average price of $66.57.

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

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 yield of 3.01%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

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.