23,461 Shares in The Coca-Cola Company (NYSE:KO) Purchased by Lakeshore Capital Group Inc.

Lakeshore Capital Group Inc. purchased a new position in The Coca-Cola Company (NYSE:KO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,461 shares of the company's stock, valued at approximately $1,461,000. Coca-Cola makes up approximately 2.2% of Lakeshore Capital Group Inc.'s investment portfolio, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. Voleon Capital Management LP bought a new position in shares of Coca-Cola during the 4th quarter valued at approximately $2,513,000. Rice Partnership LLC boosted its stake in Coca-Cola by 7.1% during the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock worth $6,397,000 after buying an additional 6,793 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in Coca-Cola by 62.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock worth $1,663,000 after buying an additional 10,240 shares during the period. Lockheed Martin Investment Management Co. boosted its stake in Coca-Cola by 16.3% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company's stock worth $13,634,000 after buying an additional 30,650 shares during the period. Finally, abrdn plc boosted its stake in Coca-Cola by 0.3% during the fourth quarter. abrdn plc now owns 7,238,640 shares of the company's stock worth $447,963,000 after buying an additional 22,904 shares during the period. Institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Down 0.1%

Shares of KO traded down $0.04 during mid-day trading on Tuesday, hitting $71.73. 10,658,148 shares of the company traded hands, compared to its average volume of 15,711,147. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $308.75 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The business has a 50 day moving average of $71.14 and a 200 day moving average of $67.08.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.84%. Coca-Cola's payout ratio is 81.60%.

Insider Buying and Selling

In other news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 55,500 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company's stock, valued at approximately $17,533,008.09. This represents a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 284,469 shares of company stock valued at $20,356,667. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. Royal Bank of Canada boosted their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Barclays reissued an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $75.81.

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.