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

Coca-Cola logo with Consumer Staples background

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.

Get Our Latest Report on Coca-Cola

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

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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