Massachusetts Financial Services Co. MA Buys 5,657 Shares of The Coca-Cola Company (NYSE:KO)

Massachusetts Financial Services Co. MA increased its stake in The Coca-Cola Company (NYSE:KO) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 176,745 shares of the company’s stock after acquiring an additional 5,657 shares during the period. Massachusetts Financial Services Co. MA’s holdings in The Coca-Cola were worth $9,563,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Litman Gregory Asset Management LLC bought a new position in The Coca-Cola in the 2nd quarter worth approximately $27,000. Monumental Financial Group Inc. bought a new position in The Coca-Cola in the 2nd quarter worth approximately $27,000. Hillsdale Investment Management Inc. bought a new position in The Coca-Cola in the 2nd quarter worth approximately $32,000. Tortoise Investment Management LLC raised its position in shares of The Coca-Cola by 108.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 618 shares of the company’s stock valued at $33,000 after acquiring an additional 322 shares during the last quarter. Finally, tru Independence LLC bought a new stake in shares of The Coca-Cola during the 2nd quarter valued at $54,000. Hedge funds and other institutional investors own 66.67% of the company’s stock.

Shares of NYSE KO opened at $54.24 on Thursday. The firm has a market cap of $233.87 billion, a PE ratio of 29.01, a PEG ratio of 2.85 and a beta of 0.62. The company has a current ratio of 1.47, a quick ratio of 1.25 and a debt-to-equity ratio of 1.64. The Coca-Cola Company has a 1-year low of $47.30 and a 1-year high of $57.56. The company has a fifty day moving average price of $55.35 and a 200 day moving average price of $54.94.

The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 20th. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12. The firm had revenue of $10.10 billion during the quarter, compared to analyst estimates of $9.30 billion. The Coca-Cola had a net margin of 22.19% and a return on equity of 44.17%. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. Equities research analysts forecast that The Coca-Cola Company will post 2.25 EPS for the current year.

KO has been the subject of several recent research reports. Royal Bank of Canada reiterated a “buy” rating and set a $60.00 target price on shares of The Coca-Cola in a research report on Wednesday, June 23rd. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Tuesday, July 6th. Bank of America upped their target price on shares of The Coca-Cola from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 22nd. UBS Group upped their target price on shares of The Coca-Cola from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of The Coca-Cola from $58.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, July 22nd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $61.25.

In other news, COO Brian John Smith sold 10,000 shares of the company’s 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 sale, the chief operating officer now directly owns 144,229 shares of the company’s stock, valued at approximately $8,026,343.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy Quan sold 19,911 shares of the company’s stock in a transaction dated Friday, July 16th. The shares were sold at an average price of $56.50, for a total transaction of $1,124,971.50. Following the completion of the sale, the senior vice president now directly owns 196,745 shares in the company, valued at $11,116,092.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,188 shares of company stock valued at $3,864,107. Company insiders own 1.01% of the company’s stock.

The Coca-Cola 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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