The Coca-Cola Company (NYSE:KO) Shares Purchased by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.8% in the third quarter, HoldingsChannel reports. The fund owned 535,140 shares of the company’s stock after buying an additional 29,363 shares during the quarter. Coca-Cola makes up about 1.0% of Dai ichi Life Insurance Company Ltd’s portfolio, making the stock its 13th largest position. Dai ichi Life Insurance Company Ltd’s holdings in Coca-Cola were worth $38,455,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KO. Ancora Advisors LLC grew its position in Coca-Cola by 8.0% during the first quarter. Ancora Advisors LLC now owns 46,528 shares of the company’s stock valued at $2,847,000 after acquiring an additional 3,435 shares during the period. Coppell Advisory Solutions Corp. purchased a new stake in shares of Coca-Cola during the 1st quarter worth about $452,000. Hancock Whitney Corp increased its position in Coca-Cola by 14.5% during the 1st quarter. Hancock Whitney Corp now owns 57,022 shares of the company’s stock worth $3,489,000 after purchasing an additional 7,226 shares in the last quarter. Pineridge Advisors LLC raised its holdings in Coca-Cola by 8.4% in the first quarter. Pineridge Advisors LLC now owns 2,265 shares of the company’s stock valued at $139,000 after buying an additional 175 shares during the period. Finally, XML Financial LLC lifted its position in Coca-Cola by 7.1% during the first quarter. XML Financial LLC now owns 25,541 shares of the company’s stock valued at $1,563,000 after buying an additional 1,704 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $64.38 on Tuesday. The firm has a market cap of $277.34 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.47 and a 1 year high of $73.53. The firm’s 50-day simple moving average is $67.63 and its 200-day simple moving average is $66.58. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06.

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

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.01%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Analyst Upgrades and Downgrades

KO has been the subject of several recent research reports. Barclays dropped their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. 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. Finally, Truist Financial increased their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $72.36.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.97% of the company’s stock.

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.