Davis R M Inc. Purchases 1,965 Shares of The Coca-Cola Company (NYSE:KO)

Davis R M Inc. lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 12.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,575 shares of the company’s stock after buying an additional 1,965 shares during the period. Davis R M Inc.’s holdings in Coca-Cola were worth $1,263,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Truist Financial increased their price target 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. Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Barclays cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Four investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Price Performance

KO opened at $64.38 on Tuesday. The company’s 50-day simple moving average is $67.63 and its two-hundred 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. The stock has a market capitalization of $277.34 billion, a P/E ratio of 26.60, a P/E/G ratio of 3.88 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $57.47 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results 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. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. As a group, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company 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 $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, November 29th. Coca-Cola’s dividend payout ratio is 80.17%.

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.