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 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,296 shares of the company’s stock after selling 357 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Coca-Cola were worth $237,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KO. New Millennium Group LLC bought a new stake in shares of Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP bought a new stake in Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC acquired a new stake in Coca-Cola in the 3rd quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the 3rd quarter worth about $36,000. Finally, Mount Lucas Management LP acquired a new position in shares of Coca-Cola during the second quarter valued at about $38,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO opened at $64.43 on Thursday. The Coca-Cola Company has a 1-year low of $57.47 and a 1-year high of $73.53. The company has a 50 day moving average of $67.34 and a 200-day moving average of $66.57. 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 has a market cap of $277.55 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 3.91 and a beta of 0.61.

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, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $11.85 billion during 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%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, November 29th. Coca-Cola’s payout ratio is presently 80.17%.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. Truist Financial lifted 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 boosted their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Finally, Morgan Stanley dropped their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.36.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.