Wintrust Investments LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,769 shares of the company’s stock after purchasing an additional 705 shares during the period. Wintrust Investments LLC’s holdings in Coca-Cola were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in KO. Venturi Wealth Management LLC bought a new stake in shares of Coca-Cola in the 1st quarter valued at about $25,000. Freedom Wealth Alliance LLC bought a new stake in Coca-Cola during the 4th quarter worth approximately $25,000. Paladin Advisory Group LLC bought a new stake in Coca-Cola during the 2nd quarter worth approximately $28,000. Fortis Capital Advisors LLC bought a new stake in Coca-Cola during the 4th quarter worth approximately $30,000. Finally, NewSquare Capital LLC increased its stake in Coca-Cola by 62.5% during the 1st quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. 68.96% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Coca-Cola
In related news, SVP Beatriz R. Perez sold 20,534 shares of the firm’s 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 transaction, the senior vice president now owns 143,383 shares in the company, valued at $8,046,653.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, CEO James Quincey sold 92,029 shares of Coca-Cola stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $53.86, for a total value of $4,956,681.94. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $23,835,527.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Beatriz R. Perez sold 20,534 shares of Coca-Cola stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $56.12, for a total value of $1,152,368.08. Following the completion of the transaction, 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. Over the last 90 days, insiders sold 204,592 shares of company stock valued at $11,455,015. 1.00% of the stock is currently owned by corporate insiders.
Coca-Cola Trading Up 0.2 %
Coca-Cola (NYSE:KO – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Coca-Cola had a return on equity of 42.44% and a net margin of 23.92%. The business had revenue of $11.95 billion during the quarter, compared to the consensus estimate of $11.45 billion. Research analysts forecast that The Coca-Cola Company will post 2.68 EPS for the current year.
Coca-Cola Dividend Announcement
The company 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 dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Thursday, November 30th. Coca-Cola’s dividend payout ratio is currently 73.90%.
Analysts Set New Price Targets
A number of research firms recently issued reports on KO. Citigroup lowered their target price 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. Wedbush raised their price target 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. Jefferies Financial Group initiated coverage on shares of Coca-Cola in a research note on Monday. They set a “hold” rating and a $64.00 price target for the company. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Finally, Royal Bank of Canada raised their price target on shares of Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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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