CCLA Investment Management Has $153.97 Million Position in The Coca-Cola Company (NYSE:KO)

CCLA Investment Management grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 22.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,472,226 shares of the company’s stock after acquiring an additional 457,097 shares during the period. Coca-Cola makes up about 2.4% of CCLA Investment Management’s holdings, making the stock its 7th largest position. CCLA Investment Management’s holdings in Coca-Cola were worth $153,970,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in KO. Quarry LP acquired a new position in Coca-Cola in the second quarter worth approximately $27,000. Hara Capital LLC bought a new stake in shares of Coca-Cola in the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola during the 3rd quarter valued at about $36,000. MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola in the third quarter valued at $43,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Coca-Cola in the third quarter valued at approximately $58,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Up 0.5 %

Shares of NYSE:KO opened at $61.98 on Wednesday. The stock’s fifty day moving average price is $62.78 and its 200-day moving average price is $66.47. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market cap of $267.00 billion, a P/E ratio of 25.61, a PEG ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. Coca-Cola’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. Sell-side analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.485 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.94 annualized dividend and a dividend yield of 3.13%. Coca-Cola’s dividend payout ratio (DPR) is 80.17%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Truist Financial increased their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Piper Sandler initiated coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price objective for the company. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.60.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction dated 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.97% of the stock is currently owned by insiders.

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.