First Quadrant L P CA boosted its holdings in Coca-Cola Co (The) (NYSE:KO) by 32.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,267 shares of the company’s stock after acquiring an additional 1,305 shares during the quarter. First Quadrant L P CA’s holdings in Coca-Cola were worth $235,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of KO. Stratos Wealth Advisors LLC boosted its stake in Coca-Cola by 1,060.5% during the 2nd quarter. Stratos Wealth Advisors LLC now owns 79,527 shares of the company’s stock valued at $3,553,000 after purchasing an additional 72,674 shares in the last quarter. Pinnacle Financial Partners Inc. boosted its stake in Coca-Cola by 0.9% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 210,908 shares of the company’s stock valued at $9,423,000 after purchasing an additional 1,843 shares in the last quarter. Fundamentun LLC boosted its stake in Coca-Cola by 89.8% during the 2nd quarter. Fundamentun LLC now owns 17,208 shares of the company’s stock valued at $769,000 after purchasing an additional 8,144 shares in the last quarter. Somerville Kurt F boosted its stake in Coca-Cola by 8.6% during the 2nd quarter. Somerville Kurt F now owns 24,005 shares of the company’s stock valued at $1,072,000 after purchasing an additional 1,900 shares in the last quarter. Finally, North Star Asset Management Inc. boosted its stake in Coca-Cola by 41.2% during the 2nd quarter. North Star Asset Management Inc. now owns 22,065 shares of the company’s stock valued at $985,000 after purchasing an additional 6,440 shares in the last quarter. Hedge funds and other institutional investors own 67.40% of the company’s stock.
In other Coca-Cola news, Director David B. Weinberg sold 98,905 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $48.50, for a total transaction of $4,796,892.50. Following the transaction, the director now directly owns 355,214 shares in the company, valued at $17,227,879. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David B. Weinberg sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $48.02, for a total value of $9,604,000.00. Following the transaction, the director now owns 355,214 shares in the company, valued at $17,057,376.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 698,905 shares of company stock valued at $33,768,893. 1.01% of the stock is owned by corporate insiders.
Shares of Coca-Cola stock opened at $47.24 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 1.97. Coca-Cola Co has a 12 month low of $36.27 and a 12 month high of $60.13. The business has a fifty day simple moving average of $45.98 and a 200-day simple moving average of $49.34. The stock has a market cap of $202.92 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 5.46 and a beta of 0.54.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The business had revenue of $7.20 billion during the quarter, compared to analyst estimates of $7.26 billion. During the same period last year, the company earned $0.63 earnings per share. Coca-Cola’s quarterly revenue was down 28.0% compared to the same quarter last year. Analysts expect that Coca-Cola Co will post 1.8 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.64 annualized dividend and a dividend yield of 3.47%. Coca-Cola’s dividend payout ratio is 77.73%.
KO has been the subject of a number of research reports. Royal Bank of Canada decreased their price target on Coca-Cola from $57.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. Barclays reaffirmed a “buy” rating and set a $50.00 price target on shares of Coca-Cola in a research note on Thursday, April 23rd. Cfra reduced their price objective on Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating for the company in a research note on Tuesday, April 21st. Morgan Stanley raised Coca-Cola from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $54.00 in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. Finally, Jefferies Financial Group reduced their price objective on Coca-Cola from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Coca-Cola has an average rating of “Buy” and an average target price of $54.05.
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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