The Coca-Cola Company (NYSE:KO) Shares Bought by Vestcor Inc

Vestcor Inc lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 2.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,511 shares of the company’s stock after buying an additional 1,848 shares during the period. Vestcor Inc’s holdings in Coca-Cola were worth $5,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KO. FMR LLC lifted its position in Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Truist Financial Corp increased its holdings in Coca-Cola by 1.1% in the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock valued at $1,041,479,000 after purchasing an additional 177,241 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Coca-Cola by 1.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock valued at $847,468,000 after purchasing an additional 222,028 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on KO. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays dropped their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Wells Fargo & Company reduced their target price on shares of Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.14.

Coca-Cola Price Performance

Shares of NYSE KO opened at $62.63 on Tuesday. The stock has a market cap of $269.80 billion, a P/E ratio of 25.88, a P/E/G ratio of 3.80 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. The stock has a 50 day moving average of $66.03 and a two-hundred day moving average of $66.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last issued 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. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the prior year, the business earned $0.74 EPS. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. On average, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 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.