HBK Sorce Advisory LLC Acquires 3,388 Shares of The Coca-Cola Company (NYSE:KO)

HBK Sorce Advisory LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,674 shares of the company’s stock after purchasing an additional 3,388 shares during the period. HBK Sorce Advisory LLC’s holdings in The Coca-Cola were worth $4,961,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of The Coca-Cola by 2.9% during the 1st quarter. Geode Capital Management LLC now owns 58,236,409 shares of the company’s stock valued at $3,060,800,000 after purchasing an additional 1,645,182 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of The Coca-Cola by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,866,731 shares of the company’s stock valued at $1,837,825,000 after purchasing an additional 571,710 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of The Coca-Cola by 6.5% during the 1st quarter. Franklin Resources Inc. now owns 24,450,761 shares of the company’s stock valued at $1,288,799,000 after purchasing an additional 1,492,150 shares in the last quarter. Alliancebernstein L.P. lifted its stake in The Coca-Cola by 19.8% in the 2nd quarter. Alliancebernstein L.P. now owns 17,492,818 shares of the company’s stock valued at $946,536,000 after acquiring an additional 2,893,767 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in The Coca-Cola by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 14,829,726 shares of the company’s stock valued at $781,704,000 after acquiring an additional 97,335 shares in the last quarter. Institutional investors and hedge funds own 66.67% of the company’s stock.

Several research firms have commented on KO. Bank of America boosted their target price on The Coca-Cola from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 22nd. Truist boosted their target price on The Coca-Cola from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, July 22nd. Credit Suisse Group boosted their target price on The Coca-Cola from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, July 22nd. JPMorgan Chase & Co. boosted their target price on The Coca-Cola from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, July 22nd. Finally, Argus boosted their target price on The Coca-Cola from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, June 17th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $61.25.

Shares of NYSE KO remained flat at $$53.89 during mid-day trading on Monday. 210,226 shares of the stock were exchanged, compared to its average volume of 15,659,371. The firm’s fifty day moving average is $56.18 and its 200-day moving average is $54.77. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.47 and a quick ratio of 1.25. The company has a market capitalization of $232.36 billion, a PE ratio of 28.82, a P/E/G ratio of 2.85 and a beta of 0.62. The Coca-Cola Company has a one year low of $47.30 and a one year high of $57.56.

The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 20th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $10.10 billion during the quarter, compared to analysts’ expectations of $9.30 billion. The Coca-Cola had a net margin of 22.19% and a return on equity of 44.17%. The Coca-Cola’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. As a group, analysts expect that The Coca-Cola Company will post 2.25 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.12%. The ex-dividend date is Tuesday, September 14th. The Coca-Cola’s dividend payout ratio (DPR) is 86.15%.

In other The Coca-Cola news, COO Brian John Smith sold 10,000 shares of The Coca-Cola stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $55.65, for a total value of $556,500.00. Following the completion of the sale, the chief operating officer now owns 144,229 shares in the company, valued at approximately $8,026,343.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nancy Quan sold 6,625 shares of the business’s stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $57.08, for a total transaction of $378,155.00. Following the completion of the transaction, the senior vice president now owns 176,701 shares of the company’s stock, valued at $10,086,093.08. The disclosure for this sale can be found here. Insiders sold a total of 68,188 shares of company stock valued at $3,864,107 in the last quarter. Corporate insiders own 1.01% of the company’s stock.

The Coca-Cola Company Profile

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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

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