Saratoga Research & Investment Management Cuts Stock Holdings in The Coca-Cola Co (NYSE:KO)

Saratoga Research & Investment Management decreased its holdings in shares of The Coca-Cola Co (NYSE:KO) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 508,583 shares of the company’s stock after selling 20,432 shares during the quarter. The Coca-Cola accounts for approximately 1.6% of Saratoga Research & Investment Management’s portfolio, making the stock its 26th largest position. Saratoga Research & Investment Management’s holdings in The Coca-Cola were worth $25,897,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of The Coca-Cola by 0.8% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 163,986 shares of the company’s stock worth $7,765,000 after purchasing an additional 1,331 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of The Coca-Cola by 244.9% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 2,223,597 shares of the company’s stock worth $92,103,000 after purchasing an additional 1,578,968 shares during the last quarter. Paradigm Financial Partners LLC acquired a new position in shares of The Coca-Cola during the 4th quarter worth $1,705,000. Freestone Capital Holdings LLC increased its stake in shares of The Coca-Cola by 77.7% during the 4th quarter. Freestone Capital Holdings LLC now owns 9,517 shares of the company’s stock worth $451,000 after purchasing an additional 4,161 shares during the last quarter. Finally, Strategic Wealth Advisors Group LLC acquired a new position in shares of The Coca-Cola during the 4th quarter worth $3,140,000. 66.80% of the stock is owned by institutional investors.

Several research analysts have recently commented on KO shares. BMO Capital Markets increased their price target on shares of The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 24th. Royal Bank of Canada restated a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research note on Wednesday, July 24th. Barclays set a $54.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Thursday, May 16th. JPMorgan Chase & Co. increased their price target on shares of The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley restated a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research note on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The Coca-Cola presently has an average rating of “Hold” and an average price target of $53.86.

In other news, SVP Nancy Quan sold 23,320 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $47.95, for a total transaction of $1,118,194.00. Following the completion of the transaction, the senior vice president now directly owns 165,049 shares of the company’s stock, valued at approximately $7,914,099.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert Edward Long sold 30,412 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $49.97, for a total transaction of $1,519,687.64. Following the transaction, the senior vice president now directly owns 57,538 shares of the company’s stock, valued at $2,875,173.86. The disclosure for this sale can be found here. Insiders sold a total of 369,175 shares of company stock worth $18,634,452 over the last 90 days. Company insiders own 1.33% of the company’s stock.

NYSE KO traded up $0.30 during midday trading on Friday, hitting $52.33. The company had a trading volume of 13,101,092 shares, compared to its average volume of 12,321,040. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83. The firm has a market cap of $222.48 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48. The stock has a fifty day moving average of $52.04. The Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $54.82.

The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $9.86 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. As a group, research analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 annualized dividend and a yield of 3.06%. The Coca-Cola’s dividend payout ratio is 76.92%.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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

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