Reynders McVeigh Capital Management LLC Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Reynders McVeigh Capital Management LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 8.7% during the third quarter, Holdings Channel reports. The institutional investor owned 10,021 shares of the company’s stock after acquiring an additional 800 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Coca-Cola were worth $720,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. FMR LLC raised its holdings in Coca-Cola by 13.7% in the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares during the period. Legal & General Group Plc raised its holdings in Coca-Cola by 2.9% in 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 period. Truist Financial Corp raised its holdings in Coca-Cola by 1.1% in 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 period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Coca-Cola by 1.9% in 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 period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Coca-Cola by 8.3% in 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 period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on KO. Wells Fargo & Company reduced their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating for the company in a report on Monday. Truist Financial increased their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Barclays reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.14.

Coca-Cola Trading Down 2.1 %

Shares of Coca-Cola stock opened at $62.21 on Thursday. The firm has a market capitalization of $267.99 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 3.86 and a beta of 0.61. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53. 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 50 day moving average of $66.57 and a 200 day moving average of $66.58.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’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 earnings per share. As a group, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.12%. Coca-Cola’s 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.