MML Investors Services LLC grew its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 525,455 shares of the company’s stock after purchasing an additional 14,535 shares during the quarter. MML Investors Services LLC’s holdings in Coca-Cola were worth $32,594,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth approximately $25,000. Freedom Wealth Alliance LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at $25,000. Fortis Capital Advisors LLC acquired a new position in Coca-Cola during the 4th quarter worth about $30,000. NewSquare Capital LLC boosted its holdings in Coca-Cola by 62.5% during the 1st quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock valued at $31,000 after acquiring an additional 195 shares during the period. Finally, Retirement Group LLC increased its stake in Coca-Cola by 51.5% during the fourth quarter. Retirement Group LLC now owns 550 shares of the company’s stock worth $35,000 after purchasing an additional 187 shares during the period. Institutional investors and hedge funds own 68.96% of the company’s stock.
Coca-Cola Stock Down 0.3 %
Shares of NYSE:KO traded down $0.19 during trading on Wednesday, reaching $58.63. 2,809,822 shares of the stock traded hands, compared to its average volume of 12,810,640. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.14. The stock has a market cap of $253.54 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 3.48 and a beta of 0.55. The stock has a 50-day moving average of $60.81 and a two-hundred day moving average of $61.33. The Coca-Cola Company has a 52-week low of $54.01 and a 52-week high of $64.99.
Coca-Cola Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.84 annualized dividend and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is presently 75.72%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on KO shares. Wedbush raised their price objective on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. StockNews.com began coverage on shares of Coca-Cola in a research report on Thursday, August 17th. They set a “buy” rating for the company. Barclays lifted their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Royal Bank of Canada lifted their target price on Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. Finally, HSBC reduced their price objective on Coca-Cola from $77.00 to $74.00 in a research note on Wednesday, June 7th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $68.33.
Insider Activity at Coca-Cola
In other Coca-Cola news, SVP Monica Howard Douglas sold 21,074 shares of Coca-Cola stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the sale, the senior vice president now directly owns 18,360 shares in the company, valued at approximately $1,118,124. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Monica Howard Douglas sold 21,074 shares of Coca-Cola stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the transaction, the senior vice president now owns 18,360 shares in the company, valued at approximately $1,118,124. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Beatriz R. Perez sold 50,000 shares of Coca-Cola stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now owns 143,383 shares of the company’s stock, valued at $8,984,378.78. The disclosure for this sale can be found here. Insiders sold 227,364 shares of company stock valued at $14,122,016 over the last 90 days. Insiders own 1.00% of the company’s stock.
Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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