Lord Abbett & CO. LLC Boosts Holdings in The Coca-Cola Company (NYSE:KO)

Lord Abbett & CO. LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,027,396 shares of the company’s stock after buying an additional 174,948 shares during the period. Lord Abbett & CO. LLC’s holdings in Coca-Cola were worth $145,689,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new position in Coca-Cola during the 2nd quarter worth approximately $26,000. Quarry LP acquired a new position in shares of Coca-Cola during the second quarter worth $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the third quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the third quarter valued at $36,000. Finally, Mount Lucas Management LP acquired a new position in shares of Coca-Cola during the 2nd quarter worth about $38,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is owned by insiders.

Coca-Cola Trading Down 1.1 %

Shares of KO stock opened at $63.12 on Friday. The Coca-Cola Company has a twelve month low of $57.47 and a twelve month high of $73.53. 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 business’s 50 day moving average is $65.41 and its two-hundred day moving average is $66.58. The company has a market capitalization of $271.91 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 3.81 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted 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 firm had revenue of $11.85 billion for 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 quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted $0.74 EPS. Equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.07%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KO shares. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company reduced their price objective 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. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Barclays dropped their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $72.50.

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.