Gabelli Funds LLC trimmed its holdings in The Coca-Cola Co (NYSE:KO) by 10.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 697,000 shares of the company’s stock after selling 77,600 shares during the quarter. Gabelli Funds LLC’s holdings in The Coca-Cola were worth $30,570,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of The Coca-Cola by 1.9% during the first quarter. BlackRock Inc. now owns 246,505,322 shares of the company’s stock worth $10,705,725,000 after purchasing an additional 4,526,566 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of The Coca-Cola by 1.3% during the first quarter. Suntrust Banks Inc. now owns 20,136,587 shares of the company’s stock worth $874,530,000 after purchasing an additional 265,918 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of The Coca-Cola by 1.9% during the second quarter. Janus Henderson Group PLC now owns 15,923,120 shares of the company’s stock worth $698,396,000 after purchasing an additional 299,933 shares during the last quarter. Swiss National Bank raised its stake in shares of The Coca-Cola by 2.8% during the second quarter. Swiss National Bank now owns 15,439,790 shares of the company’s stock worth $677,189,000 after purchasing an additional 425,900 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of The Coca-Cola by 2.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 14,397,678 shares of the company’s stock worth $631,483,000 after purchasing an additional 401,752 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

NYSE:KO opened at $45.77 on Friday. The firm has a market capitalization of $193.59 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 2.80 and a beta of 0.74. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.15 and a quick ratio of 1.06. The Coca-Cola Co has a 1 year low of $41.45 and a 1 year high of $48.62.

The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, July 25th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.54 billion. The Coca-Cola had a return on equity of 40.68% and a net margin of 7.18%. The Coca-Cola’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. sell-side analysts anticipate that The Coca-Cola Co will post 2.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, September 13th. The Coca-Cola’s payout ratio is 81.68%.

KO has been the subject of several analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $50.00 price target on shares of The Coca-Cola in a research note on Thursday, July 26th. Morgan Stanley set a $49.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Financial Group restated a “hold” rating and set a $48.00 price target on shares of The Coca-Cola in a research note on Friday, August 31st. Wells Fargo & Co restated a “buy” rating and set a $52.00 price target on shares of The Coca-Cola in a research note on Wednesday. Finally, Citigroup restated a “buy” rating on shares of The Coca-Cola in a research note on Thursday, May 17th. Fourteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $50.28.

In other The Coca-Cola news, VP Kathy N. Waller sold 48,354 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $46.45, for a total value of $2,246,043.30. Following the sale, the vice president now owns 200,725 shares of the company’s stock, valued at $9,323,676.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Murphy sold 56,000 shares of the company’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $46.48, for a total value of $2,602,880.00. Following the completion of the sale, the insider now directly owns 140,869 shares in the company, valued at approximately $6,547,591.12. The disclosure for this sale can be found here. Insiders sold 215,822 shares of company stock valued at $10,027,727 in the last quarter. 1.48% of the stock is currently owned by company insiders.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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