The Coca-Cola Company (NYSE:KO) Shares Purchased by Cardinal Capital Management

Cardinal Capital Management grew its position in The Coca-Cola Company (NYSE:KO) by 0.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 76,225 shares of the company’s stock after purchasing an additional 420 shares during the period. Cardinal Capital Management’s holdings in Coca-Cola were worth $4,625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Morgan Stanley raised its position in Coca-Cola by 15.7% during the fourth quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock worth $5,031,669,000 after acquiring an additional 10,722,435 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Coca-Cola by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 76,982,020 shares of the company’s stock worth $4,764,721,000 after purchasing an additional 1,087,974 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Coca-Cola by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,636,577 shares of the company’s stock worth $3,728,653,000 after purchasing an additional 2,546,489 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Coca-Cola by 103,297.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after buying an additional 57,678,466 shares in the last quarter. Finally, Norges Bank acquired a new stake in Coca-Cola during the 4th quarter valued at $2,937,315,000. Institutional investors and hedge funds own 68.96% of the company’s stock.

Insider Activity at Coca-Cola

In related news, SVP Beatriz R. Perez sold 50,000 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total value of $3,133,000.00. Following the completion of the sale, the senior vice president now directly owns 143,383 shares in the company, valued at approximately $8,984,378.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other 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 sale, the senior vice president now owns 18,360 shares in the company, valued at $1,118,124. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Beatriz R. Perez sold 50,000 shares of the company’s stock in a transaction on 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 completion of the transaction, 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. In the last 90 days, insiders have sold 227,364 shares of company stock worth $14,122,016. 1.00% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

KO stock opened at $58.30 on Tuesday. The stock has a 50-day moving average price of $60.49 and a two-hundred day moving average price of $61.25. The company has a market cap of $252.11 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 3.40 and a beta of 0.55. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 12-month low of $54.01 and a 12-month high of $64.99.

Coca-Cola (NYSE:KO) last issued its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The business had revenue of $12 billion during the quarter, compared to analysts’ expectations of $11.74 billion. During the same quarter in the previous year, the business earned $0.70 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, research analysts predict that The Coca-Cola Company will post 2.63 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola’s dividend payout ratio is presently 75.72%.

Analyst Ratings Changes

KO has been the subject of a number of analyst reports. StockNews.com initiated coverage on Coca-Cola in a report on Thursday, August 17th. They issued a “buy” rating for the company. HSBC reduced their target price on shares of Coca-Cola from $77.00 to $74.00 in a report on Wednesday, June 7th. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $69.00 to $70.00 in a research report on Thursday, July 27th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Finally, Wedbush boosted their price target on Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.33.

Coca-Cola 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.