The Coca-Cola Company (NYSE:KO) Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in The Coca-Cola Company (NYSE:KO) by 9.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 370,657 shares of the company’s stock after buying an additional 31,649 shares during the quarter. Pacer Advisors Inc.’s holdings in Coca-Cola were worth $26,635,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Legal & General Group Plc increased its holdings 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 worth $2,463,373,000 after purchasing an additional 1,084,475 shares during the last quarter. Truist Financial Corp increased its holdings in Coca-Cola by 1.1% during the 2nd 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 last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Coca-Cola by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock worth $847,468,000 after purchasing an additional 222,028 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Coca-Cola by 8.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company’s stock worth $532,558,000 after purchasing an additional 640,402 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings 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 purchasing an additional 542,531 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The trade was a 7.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. This represents a 8.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,881 shares of company stock worth $10,693,244. 0.97% of the stock is owned by company insiders.

Coca-Cola Trading Up 0.2 %

NYSE:KO opened at $63.92 on Friday. The Coca-Cola Company has a 12-month low of $57.47 and a 12-month high of $73.53. The firm has a market capitalization of $275.33 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.80 and a beta of 0.61. 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 business has a 50 day simple moving average of $67.79 and a 200 day simple moving average of $66.51.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (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 during the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. Equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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 given 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 yield of 3.04%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Wall Street Analyst Weigh In

Several research firms have issued reports on KO. Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Barclays decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Company 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.