Massachusetts Financial Services Co. MA Has $237,000 Position in The Coca-Cola Company (NYSE:KO)

Massachusetts Financial Services Co. MA lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.8% in the third quarter, Holdings Channel.com reports. The fund owned 3,296 shares of the company’s stock after selling 357 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Coca-Cola were worth $237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in KO. Harvest Portfolios Group Inc. bought a new stake in Coca-Cola in the third quarter valued at approximately $18,383,000. Balentine LLC raised its stake in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after acquiring an additional 59,503 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after acquiring an additional 46,541 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Coca-Cola by 4.8% during the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after purchasing an additional 21,005 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were 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. The trade was a 22.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Down 0.2 %

Shares of KO opened at $64.43 on Thursday. The firm has a market cap of $277.55 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 3.91 and a beta of 0.61. 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 business has a 50-day moving average of $67.34 and a 200 day moving average of $66.57. The Coca-Cola Company has a fifty-two week low of $57.47 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last released 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 analyst estimates of $11.61 billion. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. Coca-Cola’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid 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 3.01%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KO. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial lifted their target price on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. 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 research report on Thursday, October 24th. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Four equities research 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.36.

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.