Wilmington Savings Fund Society FSB Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Wilmington Savings Fund Society FSB boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 222.9% during the third quarter, Holdings Channel.com reports. The firm owned 192,237 shares of the company’s stock after acquiring an additional 132,701 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Coca-Cola were worth $13,814,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. ORG Partners LLC lifted its position in Coca-Cola by 2,577.5% in the second quarter. ORG Partners LLC now owns 4,873 shares of the company’s stock worth $309,000 after buying an additional 4,691 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Coca-Cola by 3.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 119,840 shares of the company’s stock valued at $7,702,000 after acquiring an additional 3,756 shares during the period. Fiduciary Financial Group LLC bought a new stake in shares of Coca-Cola in the 2nd quarter worth about $407,000. Assenagon Asset Management S.A. boosted its stake in shares of Coca-Cola by 26.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,411,004 shares of the company’s stock worth $153,460,000 after purchasing an additional 499,504 shares during the period. Finally, Triad Wealth Partners LLC grew its holdings in Coca-Cola by 28.7% during the 2nd quarter. Triad Wealth Partners LLC now owns 5,501 shares of the company’s stock valued at $350,000 after purchasing an additional 1,226 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $70.00 in a report on Thursday. Finally, Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.50.

Coca-Cola Stock Up 0.9 %

Coca-Cola stock opened at $63.22 on Thursday. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The business has a fifty day moving average of $65.68 and a two-hundred day moving average of $66.59. The firm has a market cap of $272.34 billion, a P/E ratio of 25.88, a P/E/G ratio of 3.80 and a beta of 0.61. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. On average, analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 3.07%. Coca-Cola’s payout ratio is 80.17%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.97% of the stock is owned by insiders.

Coca-Cola Company 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.