Lockheed Martin Investment Management Co. Has $35.54 Million Holdings in CocaCola Company (The) $KO

Lockheed Martin Investment Management Co. increased its stake in shares of CocaCola Company (The) (NYSE:KO) by 134.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 502,385 shares of the company’s stock after purchasing an additional 288,490 shares during the period. CocaCola makes up approximately 1.3% of Lockheed Martin Investment Management Co.’s investment portfolio, making the stock its 17th largest holding. Lockheed Martin Investment Management Co.’s holdings in CocaCola were worth $35,544,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of CocaCola by 0.3% during the first quarter. Vanguard Group Inc. now owns 361,200,808 shares of the company’s stock worth $25,869,202,000 after purchasing an additional 1,114,422 shares during the period. Wellington Management Group LLP grew its stake in CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after acquiring an additional 16,383,870 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in CocaCola by 6.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 30,889,415 shares of the company’s stock valued at $2,212,300,000 after acquiring an additional 1,794,561 shares during the period. Amundi grew its stake in CocaCola by 16.0% in the first quarter. Amundi now owns 21,236,315 shares of the company’s stock valued at $1,554,074,000 after acquiring an additional 2,922,619 shares during the period. Finally, Nuveen LLC acquired a new position in CocaCola in the first quarter valued at about $1,508,657,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Monica Howard Douglas sold 13,548 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $69.93, for a total transaction of $947,411.64. Following the sale, the executive vice president owned 37,725 shares in the company, valued at approximately $2,638,109.25. This represents a 26.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Max R. Levchin bought 7,206 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were bought at an average price of $69.87 per share, for a total transaction of $503,483.22. Following the acquisition, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. This represents a 102.05% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.97% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on CocaCola from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Barclays reissued an “overweight” rating on shares of CocaCola in a research note on Thursday, October 23rd. Wells Fargo & Company boosted their target price on CocaCola from $75.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a research note on Tuesday, October 21st. Finally, TD Cowen boosted their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating and fifteen have assigned a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $78.31.

CocaCola Stock Up 1.0%

KO stock opened at $69.02 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.21 and a quick ratio of 1.00. The stock has a market capitalization of $296.88 billion, a P/E ratio of 22.85, a P/E/G ratio of 3.57 and a beta of 0.43. The business has a 50-day moving average of $67.76 and a 200-day moving average of $69.71. CocaCola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

CocaCola (NYSE:KO) last released its earnings results on Thursday, March 27th. The company reported $0.55 earnings per share (EPS) for the quarter. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The business had revenue of $11.40 billion for the quarter. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, December 1st. CocaCola’s dividend payout ratio is presently 67.55%.

CocaCola 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.