M&G Plc Has $163.58 Million Holdings in The Coca-Cola Company (NYSE:KO)

M&G Plc cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 10.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,271,872 shares of the company’s stock after selling 257,245 shares during the quarter. Coca-Cola accounts for about 0.8% of M&G Plc’s investment portfolio, making the stock its 25th largest holding. M&G Plc owned 0.05% of Coca-Cola worth $163,575,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KO. Price T Rowe Associates Inc. MD lifted its holdings in Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Coca-Cola by 30.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after purchasing an additional 2,964,850 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Coca-Cola in the 2nd quarter worth approximately $188,448,000. Pathway Financial Advisers LLC lifted its holdings in Coca-Cola by 7,006.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after purchasing an additional 2,443,612 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Coca-Cola by 42.6% in the 2nd quarter. Raymond James & Associates now owns 6,245,331 shares of the company’s stock worth $397,515,000 after purchasing an additional 1,866,348 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total value of $2,804,826.36. Following the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at approximately $5,150,619.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 203,748 shares of company stock valued at $14,274,431 over the last 90 days. 0.97% of the stock is owned by company insiders.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $63.68 on Thursday. The business’s fifty day moving average price is $69.90 and its two-hundred day moving average price is $66.43. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a market capitalization of $274.30 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 3.96 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $56.06 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, October 23rd. The company reported $0.77 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 return on equity of 44.01% and a net margin of 22.45%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share. As a group, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KO shares. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Truist Financial upped their price target on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen upped their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $71.80.

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.