The Coca-Cola Company (NYSE:KO) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 457,782 shares of the company’s stock after acquiring an additional 21,005 shares during the period. State of Alaska Department of Revenue’s holdings in Coca-Cola were worth $32,895,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kathmere Capital Management LLC increased its stake in Coca-Cola by 15.2% during the first quarter. Kathmere Capital Management LLC now owns 4,922 shares of the company’s stock worth $301,000 after acquiring an additional 648 shares during the last quarter. Vicus Capital grew its stake in Coca-Cola by 66.2% during the first quarter. Vicus Capital now owns 8,979 shares of the company’s stock worth $549,000 after buying an additional 3,576 shares during the period. Cornerstone Wealth Group LLC increased its position in shares of Coca-Cola by 124.5% in the first quarter. Cornerstone Wealth Group LLC now owns 22,542 shares of the company’s stock worth $1,379,000 after acquiring an additional 12,501 shares in the last quarter. LVW Advisors LLC raised its stake in shares of Coca-Cola by 35.1% in the 1st quarter. LVW Advisors LLC now owns 24,635 shares of the company’s stock valued at $1,507,000 after acquiring an additional 6,398 shares during the period. Finally, Chapin Davis Inc. lifted its holdings in shares of Coca-Cola by 44.4% during the 1st quarter. Chapin Davis Inc. now owns 14,226 shares of the company’s stock valued at $870,000 after acquiring an additional 4,377 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,074,330.17. The trade was a 0.00 % 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. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 319,005 shares of company stock valued at $22,198,147 over the last quarter. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America increased their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. 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. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial lifted their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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. Five 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Coca-Cola Trading Down 0.6 %

NYSE:KO opened at $66.92 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The company has a market cap of $288.42 billion, a PE ratio of 27.09, a P/E/G ratio of 3.91 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $55.10 and a 52 week high of $73.53. The business’s 50 day moving average is $70.66 and its two-hundred day moving average is $66.06.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period last year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

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 paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 2.90%. Coca-Cola’s dividend payout ratio (DPR) is 78.54%.

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.