LRI Investments LLC Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

LRI Investments LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 22.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 52,004 shares of the company’s stock after buying an additional 9,429 shares during the quarter. LRI Investments LLC’s holdings in Coca-Cola were worth $3,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the company. PYA Waltman Capital LLC acquired a new stake in shares of Coca-Cola in the third quarter valued at approximately $239,000. Geller Advisors LLC grew its holdings in Coca-Cola by 6.1% during the 3rd quarter. Geller Advisors LLC now owns 9,095 shares of the company’s stock valued at $658,000 after buying an additional 521 shares during the last quarter. Drucker Wealth 3.0 LLC increased its position in Coca-Cola by 1.0% during the third quarter. Drucker Wealth 3.0 LLC now owns 53,465 shares of the company’s stock worth $3,842,000 after buying an additional 553 shares in the last quarter. Hamilton Capital LLC raised its holdings in shares of Coca-Cola by 6.1% in the third quarter. Hamilton Capital LLC now owns 8,638 shares of the company’s stock worth $621,000 after acquiring an additional 496 shares during the last quarter. Finally, SGL Investment Advisors Inc. purchased a new stake in Coca-Cola during the 3rd quarter worth about $315,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

KO stock opened at $62.53 on Monday. The stock’s 50 day simple moving average is $66.21 and its 200 day simple moving average is $66.61. 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 cap of $269.37 billion, a P/E ratio of 25.84, a P/E/G ratio of 3.80 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. As a group, 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. Stockholders of record on Friday, November 29th will be issued 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 dividend yield of 3.10%. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analyst Ratings Changes

KO has been the topic of several analyst reports. Truist Financial raised 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 reduced their price target on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research note on Monday, December 2nd. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Morgan Stanley lowered their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Barclays decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Four equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.14.

Insider Buying and Selling

In related news, CEO James Quincey sold 100,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

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.