Private Advisor Group LLC boosted its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 324,772 shares of the company’s stock after purchasing an additional 4,977 shares during the period. Private Advisor Group LLC’s holdings in Coca-Cola were worth $19,698,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its holdings in Coca-Cola by 103,297.9% during 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 purchasing an additional 57,678,466 shares during the period. Norges Bank bought a new position in shares of Coca-Cola during the fourth quarter valued at approximately $2,937,315,000. Morgan Stanley boosted its holdings in Coca-Cola by 15.7% in the fourth quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock valued at $5,031,669,000 after acquiring an additional 10,722,435 shares in the last quarter. Barclays PLC raised its holdings in Coca-Cola by 164.7% in the 2nd quarter. Barclays PLC now owns 14,430,093 shares of the company’s stock worth $868,981,000 after purchasing an additional 8,979,379 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Coca-Cola in the 2nd quarter worth about $429,854,000. Institutional investors own 68.96% of the company’s stock.
Insider Transactions at Coca-Cola
In other news, CEO James Quincey sold 92,029 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $53.86, for a total value of $4,956,681.94. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $23,835,527.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO James Quincey sold 92,029 shares of the business’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $53.86, for a total transaction of $4,956,681.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $23,835,527.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Beatriz R. Perez sold 20,534 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $56.12, for a total value of $1,152,368.08. Following the completion of the sale, the senior vice president now owns 143,383 shares in the company, valued at approximately $8,046,653.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 204,592 shares of company stock worth $11,455,015. 1.00% of the stock is currently owned by company insiders.
Coca-Cola Price Performance
Coca-Cola (NYSE:KO – Get Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Coca-Cola had a return on equity of 42.44% and a net margin of 23.92%. The firm had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.45 billion. On average, analysts expect that The Coca-Cola Company will post 2.68 EPS for the current year.
Coca-Cola Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Thursday, November 30th. Coca-Cola’s dividend payout ratio (DPR) is 73.90%.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Wedbush raised their target price on Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Barclays cut their price target on shares of Coca-Cola from $70.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, October 12th. Citigroup decreased their price target on Coca-Cola from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, October 11th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Finally, JPMorgan Chase & Co. boosted their target price on Coca-Cola from $59.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.20.
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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