The Coca-Cola Company (NYSE:KO) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. grew its position in shares of The Coca-Cola Company (NYSE:KO) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,904,684 shares of the company’s stock after acquiring an additional 61,801 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Coca-Cola were worth $136,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Harvest Portfolios Group Inc. purchased a new stake in shares of Coca-Cola in the third quarter worth about $18,383,000. Balentine LLC boosted its position in shares of Coca-Cola by 92.4% in the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC boosted its position in shares of Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares during the period. CIBC Asset Management Inc boosted its position in shares of Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after buying an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Coca-Cola by 4.8% in the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after buying an additional 21,005 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was 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 $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 2.1 %

Shares of Coca-Cola stock opened at $62.21 on Thursday. 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 business’s 50 day simple moving average is $66.57 and its 200-day simple moving average is $66.58. The stock has a market capitalization of $267.99 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 3.86 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53.

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

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on KO shares. Wells Fargo & Company decreased their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a research report on Monday. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Truist Financial increased 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. Morgan Stanley reduced their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.14.

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.