Meridian Management Co. Has $2.18 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Meridian Management Co. grew its position in The Coca-Cola Company (NYSE:KO) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,367 shares of the company’s stock after purchasing an additional 1,796 shares during the period. Meridian Management Co.’s holdings in Coca-Cola were worth $2,182,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. lifted its stake in Coca-Cola by 25.2% in the third quarter. Rakuten Securities Inc. now owns 2,224 shares of the company’s stock valued at $160,000 after acquiring an additional 448 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Coca-Cola by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,793,323 shares of the company’s stock valued at $847,468,000 after purchasing an additional 222,028 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Coca-Cola by 62.0% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 375,130 shares of the company’s stock valued at $26,953,000 after purchasing an additional 143,554 shares during the last quarter. WealthPlan Investment Management LLC boosted its holdings in Coca-Cola by 221.5% in the third quarter. WealthPlan Investment Management LLC now owns 16,416 shares of the company’s stock worth $1,180,000 after purchasing an additional 11,310 shares in the last quarter. Finally, Entropy Technologies LP increased its position in Coca-Cola by 150.3% during the third quarter. Entropy Technologies LP now owns 60,006 shares of the company’s stock worth $4,312,000 after buying an additional 36,029 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 203,748 shares of company stock worth $14,274,431 over the last quarter. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 0.9 %

KO stock opened at $63.37 on Tuesday. The Coca-Cola Company has a twelve month low of $56.60 and a twelve month high of $73.53. The company has a market cap of $272.99 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 3.88 and a beta of 0.61. The business’s 50-day simple moving average is $69.37 and its 200 day simple moving average is $66.52. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period last year, the business earned $0.74 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, November 29th. Coca-Cola’s dividend payout ratio (DPR) is presently 80.17%.

Analyst Ratings Changes

KO has been the topic of several analyst reports. Truist Financial increased their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. TD Cowen increased their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Morgan Stanley lowered their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.80.

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.