Lakeshore Capital Group Inc. Buys Shares of 23,461 The Coca-Cola Company (NYSE:KO)

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

Other hedge funds also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new stake in Coca-Cola during the 4th quarter worth $243,000. Leigh Baldwin & CO. LLC bought a new position in shares of Coca-Cola during the 4th quarter valued at about $338,000. Armis Advisers LLC bought a new position in shares of Coca-Cola during the 4th quarter valued at about $1,076,000. Shufro Rose & Co. LLC raised its holdings in Coca-Cola by 6.3% during the 4th quarter. Shufro Rose & Co. LLC now owns 6,700 shares of the company's stock worth $417,000 after buying an additional 400 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in Coca-Cola during the 4th quarter worth approximately $53,793,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KO shares. Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Royal Bank of Canada lifted their price target on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Evercore ISI lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, Piper Sandler boosted their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of "Buy" and an average target price of $75.81.

Coca-Cola Stock Performance

NYSE KO traded up $0.06 on Thursday, reaching $71.21. The stock had a trading volume of 4,456,762 shares, compared to its average volume of 15,652,826. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a fifty day moving average of $71.23 and a two-hundred day moving average of $67.14. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a market cap of $306.52 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 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 business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the prior year, the company posted $0.72 earnings per share. Coca-Cola's revenue was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio is currently 81.60%.

Insider Buying and Selling

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the sale, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the sale, the chief financial officer now owns 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 229,761 shares of company stock valued at $16,474,587 over the last 90 days. 0.97% of the stock is owned by corporate insiders.

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.