SevenBridge Financial Group LLC Buys 900 Shares of The Coca-Cola Company (NYSE:KO)

SevenBridge Financial Group LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 7.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,783 shares of the company’s stock after buying an additional 900 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Coca-Cola were worth $919,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Legal & General Group Plc lifted its stake in shares of Coca-Cola by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock valued at $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 second 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Coca-Cola by 1.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock valued at $847,468,000 after buying an additional 222,028 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Coca-Cola by 8.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company’s stock valued at $532,558,000 after buying an additional 640,402 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Coca-Cola by 7.5% in the 2nd quarter. Bank of Montreal Can now owns 7,765,284 shares of the company’s stock worth $496,202,000 after buying an additional 542,531 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on KO. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company raised their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley dropped their target price on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Truist Financial raised their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Four investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.36.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $63.92 on Friday. The firm’s 50 day moving average price is $67.79 and its 200-day moving average price is $66.54. 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 stock has a market capitalization of $275.35 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 3.87 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53.

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

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 7.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James Quincey sold 42,397 shares of the 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 owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The trade was a 8.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,881 shares of company stock worth $10,693,244 over the last quarter. 0.97% of the stock is currently owned by corporate insiders.

About Coca-Cola

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.