Lockheed Martin Investment Management Co. Sells 66,040 Shares of CocaCola Company (The) $KO

Lockheed Martin Investment Management Co. lessened its holdings in CocaCola Company (The) (NYSE:KO) by 13.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 436,345 shares of the company’s stock after selling 66,040 shares during the period. CocaCola comprises approximately 1.1% of Lockheed Martin Investment Management Co.’s holdings, making the stock its 27th biggest position. Lockheed Martin Investment Management Co.’s holdings in CocaCola were worth $28,938,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its position in shares of CocaCola by 5,142.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 367 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares during the period. Headlands Technologies LLC purchased a new position in CocaCola during the second quarter valued at $26,000. Marquette Asset Management LLC bought a new stake in CocaCola during the third quarter valued at about $27,000. GFG Capital LLC purchased a new stake in CocaCola in the second quarter worth about $34,000. Finally, MMA Asset Management LLC bought a new position in shares of CocaCola in the second quarter worth about $34,000. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Manuel Arroyo sold 139,689 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $70.80, for a total transaction of $9,889,981.20. Following the transaction, the executive vice president directly owned 58,067 shares of the company’s stock, valued at approximately $4,111,143.60. This trade represents a 70.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 31,625 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $71.17, for a total value of $2,250,751.25. Following the transaction, the executive vice president owned 223,330 shares in the company, valued at $15,894,396.10. The trade was a 12.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 211,704 shares of company stock valued at $15,005,595 in the last 90 days. Company insiders own 0.97% of the company’s stock.

CocaCola Stock Down 0.2%

Shares of KO opened at $71.90 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.30. The business has a fifty day moving average of $70.63 and a 200 day moving average of $69.36. The company has a market cap of $309.29 billion, a PE ratio of 23.81, a P/E/G ratio of 3.70 and a beta of 0.39. CocaCola Company has a 52-week low of $61.37 and a 52-week high of $74.38.

CocaCola (NYSE:KO) last announced its earnings results 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 during the quarter, compared to analyst estimates of $12.46 billion. CocaCola had a return on equity of 43.62% and a net margin of 27.34%.The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, sell-side analysts expect that CocaCola Company will post 2.96 EPS for the current year.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. TD Cowen reissued a “buy” rating on shares of CocaCola in a research note on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating on shares of CocaCola in a report on Thursday, October 23rd. Evercore ISI reissued an “outperform” rating on shares of CocaCola in a report on Tuesday, October 21st. Bank of America boosted their price objective on CocaCola from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a research report on Wednesday, October 8th. 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.com, CocaCola currently has an average rating of “Buy” and an average price target of $79.08.

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.