The Coca-Cola Company (NYSE:KO) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,035 shares of the company’s stock after buying an additional 5,522 shares during the period. Brown Brothers Harriman & Co.’s holdings in Coca-Cola were worth $15,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc grew its stake in Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $2,463,373,000 after purchasing an additional 1,084,475 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Coca-Cola by 1.1% during the second quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after purchasing an additional 177,241 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted 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 buying an additional 222,028 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Coca-Cola by 8.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company’s stock worth $532,558,000 after buying an additional 640,402 shares during the period. Finally, Bank of Montreal Can raised its position in Coca-Cola by 7.5% during the 2nd quarter. Bank of Montreal Can now owns 7,765,284 shares of the company’s stock worth $496,202,000 after buying an additional 542,531 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company boosted their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Truist Financial boosted 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. Finally, Barclays dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $72.36.

Coca-Cola Trading Up 0.3 %

Shares of Coca-Cola stock opened at $63.92 on Monday. 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 Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. The firm has a market capitalization of $275.35 billion, a PE ratio of 26.41, a P/E/G ratio of 3.88 and a beta of 0.61. The firm’s 50-day moving average price is $67.79 and its 200 day moving average price is $66.57.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for 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 quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 EPS. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.485 dividend. 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 3.04%. Coca-Cola’s payout ratio is 80.17%.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

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.