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Major investors have adjusted their Coca-Cola holdings. Elwood & Goetz increased theirs by 2.2%, owning 6,871 shares post-purchase. Drive Wealth Management raised theirs by 1.6% to 9,824 shares. Capital Advisors enhanced their stake by 4.4% to 3,631 shares. Liberty Capital Management’s holdings rose by 3.7%, reaching 4,319 shares. Azzad Asset Management increased theirs by 0.4% to 42,407 shares. Hedge funds and institutions collectively hold 70.26% of the company.
Analysts Set Price Targets
Analysts have updated their Coca-Cola price targets. Bank of America raised it from $68 to $70, giving a buy rating. Truist Financial also increased it to $70 with a buy rating. RBC raised its price objective to $68, while Morgan Stanley upped its target from $70 to $78. Coca-Cola has a consensus “Moderate Buy” rating with a target of $71.07.
Insider Transactions
Insider selling includes EVP Nancy Quan, who sold 19,304 shares for $1.25 million, and EVP Lisa Chang, who sold 58,122 shares for $3.98 million. Insiders sold a total of 974,715 shares worth $579.7 million in the last quarter.
Stock Performance
Coca-Cola shares opened at $71.73. With a market cap of $309.01 billion, the stock has a PE ratio of 28.69 and a 12-month range of $51.55 to $73.53. Last reported earnings showed an EPS of $0.84, exceeding expectations.
Dividend Announcement
Coca-Cola declared a quarterly dividend of $0.485 paid on October 1st, yielding 2.70% with a payout ratio of 77.60%.
Coca-Cola Profile
Coca-Cola manufactures a wide range of beverages globally, including soft drinks, water, tea, juice, and more.
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For more hedge fund holdings of KO, visit HoldingsChannel.com.
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