The Coca-Cola Company (NYSE:KO) Shares Bought by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,062,430 shares of the company’s stock after buying an additional 105,187 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Coca-Cola were worth $148,206,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KO. Cornerstone Advisors LLC grew its stake in shares of Coca-Cola by 4.2% in the 3rd quarter. Cornerstone Advisors LLC now owns 322,600 shares of the company’s stock valued at $23,182,000 after purchasing an additional 13,000 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in Coca-Cola by 2.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 330,078 shares of the company’s stock valued at $23,827,000 after buying an additional 7,738 shares during the last quarter. Payden & Rygel increased its stake in Coca-Cola by 25.0% in the 3rd quarter. Payden & Rygel now owns 289,560 shares of the company’s stock valued at $20,808,000 after buying an additional 58,000 shares during the period. Moran Wealth Management LLC raised its position in Coca-Cola by 1.9% during the 3rd quarter. Moran Wealth Management LLC now owns 39,166 shares of the company’s stock worth $2,814,000 after buying an additional 732 shares during the last quarter. Finally, EagleClaw Capital Managment LLC lifted its stake in shares of Coca-Cola by 4.5% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 16,354 shares of the company’s stock worth $1,175,000 after acquiring an additional 700 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

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 sale, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,881 shares of company stock worth $10,693,244 over the last quarter. 0.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

KO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Morgan Stanley reduced 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. Citigroup upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Truist Financial upped 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. 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.36.

Coca-Cola Stock Performance

NYSE KO opened at $63.01 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a fifty-two week low of $57.33 and a fifty-two week high of $73.53. The business has a fifty day moving average of $68.09 and a 200-day moving average of $66.52. The stock has a market cap of $271.43 billion, a price-to-earnings ratio of 26.04, a price-to-earnings-growth ratio of 3.80 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping 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 quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 earnings per share. As a group, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal 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 paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 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.