Caprock Group LLC Acquires 8,691 Shares of The Coca-Cola Company (NYSE:KO)

Caprock Group LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 17.8% during the third quarter, Holdings Channel.com reports. The firm owned 57,575 shares of the company’s stock after acquiring an additional 8,691 shares during the quarter. Caprock Group LLC’s holdings in Coca-Cola were worth $4,165,000 at the end of the most recent quarter.

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

Coca-Cola Stock Performance

Shares of KO stock opened at $61.85 on Tuesday. The Coca-Cola Company has a 12 month low of $56.96 and a 12 month high of $73.53. The stock has a market capitalization of $266.44 billion, a P/E ratio of 25.56, a PEG ratio of 3.75 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The firm’s 50 day moving average is $68.43 and its 200 day moving average is $66.54.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.14%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

KO has been the topic of a number of research analyst reports. Citigroup upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Truist Financial boosted 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. Barclays lowered their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. 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, Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.36.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 18,484 shares of the company’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 value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. This represents a 7.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred 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 sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,748 shares of company stock valued at $20,677,431. Company insiders own 0.97% of the company’s stock.

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.