M&T Bank Corp trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,663,352 shares of the company's stock after selling 192,527 shares during the quarter. M&T Bank Corp's holdings in Coca-Cola were worth $119,528,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC increased its position in shares of Coca-Cola by 13.7% in the third 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 last quarter. Geode Capital Management LLC increased its holdings in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock worth $6,664,005,000 after buying an additional 2,966,964 shares during the last quarter. Legal & General Group Plc raised its position in shares of Coca-Cola by 2.9% during 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 buying an additional 1,084,475 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares during the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company's stock worth $1,041,479,000 after acquiring an additional 177,241 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on KO shares. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and increased their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Cfra reissued a "hold" rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. 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. Finally, Wells Fargo & Company cut their price target on shares of Coca-Cola from $78.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.50.
Get Our Latest Report on KO
KO opened at $62.55 on Friday. 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 52 week low of $57.47 and a 52 week high of $73.53. The stock has a market cap of $269.45 billion, a PE ratio of 25.85, a PEG ratio of 3.81 and a beta of 0.61. The business has a 50 day moving average of $64.76 and a 200-day moving average of $66.60.
Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The business 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 company's revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola's dividend payout ratio (DPR) is presently 80.17%.
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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.97% of the company's stock.
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.
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