Lockheed Martin Investment Management Co. Decreases Stock Position in CocaCola Company (The) $KO

Lockheed Martin Investment Management Co. lessened its holdings in CocaCola Company (The) (NYSE:KO) by 13.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 436,345 shares of the company’s stock after selling 66,040 shares during the quarter. CocaCola accounts for approximately 1.1% of Lockheed Martin Investment Management Co.’s holdings, making the stock its 27th largest holding. Lockheed Martin Investment Management Co.’s holdings in CocaCola were worth $28,938,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its position in shares of CocaCola by 13.3% in the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after acquiring an additional 4,591 shares during the period. Revolve Wealth Partners LLC lifted its stake in CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in CocaCola in the first quarter valued at $210,000. Evanson Asset Management LLC purchased a new position in shares of CocaCola during the 2nd quarter valued at about $345,000. Finally, Mather Group LLC. lifted its holdings in shares of CocaCola by 11.5% in the 2nd quarter. Mather Group LLC. now owns 44,246 shares of the company’s stock valued at $3,130,000 after buying an additional 4,568 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at CocaCola

In related news, EVP Manuel Arroyo sold 139,689 shares of CocaCola stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $70.80, for a total value of $9,889,981.20. Following the sale, the executive vice president directly owned 58,067 shares in the company, valued at approximately $4,111,143.60. The trade was a 70.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 31,625 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $71.17, for a total value of $2,250,751.25. Following the transaction, the executive vice president directly owned 223,330 shares of the company’s stock, valued at $15,894,396.10. The trade was a 12.40% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 211,704 shares of company stock valued at $15,005,595. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Evercore ISI reaffirmed an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Piper Sandler raised their price objective on shares of CocaCola from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. TD Cowen reaffirmed a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of CocaCola in a report on Wednesday, October 8th. Finally, Barclays restated an “overweight” rating on shares of CocaCola in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $79.08.

CocaCola Price Performance

CocaCola stock opened at $71.90 on Friday. The stock has a market capitalization of $309.29 billion, a P/E ratio of 23.81, a P/E/G ratio of 3.70 and a beta of 0.39. The company’s fifty day moving average price is $70.63 and its 200 day moving average price is $69.36. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a 1 year low of $61.37 and a 1 year high of $74.38.

CocaCola (NYSE:KO) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The business had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $12.46 billion. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. As a group, equities research analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.

CocaCola Company Profile

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.