The Coca-Cola Company (NYSE:KO) Shares Bought by Lathrop Investment Management Corp

Lathrop Investment Management Corp raised its holdings in The Coca-Cola Company (NYSE:KO) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,253 shares of the company’s stock after purchasing an additional 275 shares during the period. Lathrop Investment Management Corp’s holdings in Coca-Cola were worth $1,096,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. New Millennium Group LLC acquired a new position in Coca-Cola during the second quarter worth $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the 2nd quarter worth about $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the 3rd quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter worth about $36,000. Finally, Mount Lucas Management LP purchased a new stake in Coca-Cola during the 2nd quarter worth approximately $38,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following 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 filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 8.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,881 shares of company stock valued at $10,693,244. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Up 1.2 %

Shares of KO opened at $63.76 on Friday. 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 firm has a market cap of $274.67 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61. The company’s 50-day moving average price is $67.94 and its 200 day moving average price is $66.50. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid 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 3.04%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KO shares. TD Cowen lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Morgan Stanley dropped their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Truist Financial raised their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

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.