The Coca-Cola Company (NYSE:KO) Stock Holdings Boosted by Legal & General Group Plc

Legal & General Group Plc boosted its position in The Coca-Cola Company (NYSE:KO) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,701,876 shares of the company’s stock after purchasing an additional 1,084,475 shares during the quarter. Coca-Cola comprises 0.6% of Legal & General Group Plc’s holdings, making the stock its 23rd biggest position. Legal & General Group Plc owned approximately 0.90% of Coca-Cola worth $2,463,373,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lummis Asset Management LP boosted its position in Coca-Cola by 1.1% during the 2nd quarter. Lummis Asset Management LP now owns 14,855 shares of the company’s stock worth $946,000 after acquiring an additional 167 shares during the period. Mackenzie Financial Corp lifted its holdings in Coca-Cola by 7.6% in the second quarter. Mackenzie Financial Corp now owns 3,851,055 shares of the company’s stock worth $245,120,000 after purchasing an additional 272,896 shares during the period. The Manufacturers Life Insurance Company grew its position in Coca-Cola by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,393,352 shares of the company’s stock valued at $152,337,000 after buying an additional 22,623 shares in the last quarter. MBB Public Markets I LLC increased its stake in Coca-Cola by 1,716.8% during the 2nd quarter. MBB Public Markets I LLC now owns 290,784 shares of the company’s stock valued at $18,508,000 after buying an additional 274,779 shares during the period. Finally, Daymark Wealth Partners LLC raised its position in shares of Coca-Cola by 5.6% during the 2nd quarter. Daymark Wealth Partners LLC now owns 224,335 shares of the company’s stock worth $14,279,000 after buying an additional 11,904 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.1 %

Shares of NYSE:KO opened at $71.37 on Friday. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company has a market cap of $307.46 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The firm has a 50 day simple moving average of $69.69 and a 200 day simple moving average of $64.64.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. As a group, research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.72%. Coca-Cola’s dividend payout ratio is 77.60%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Barclays boosted their price objective on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Truist Financial raised their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Citigroup upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares in the company, valued at $5,074,330.17. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock valued at $579,704,927 over the last three months. 0.97% of the stock is owned by corporate 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.