Ritholtz Wealth Management grew its holdings in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 14.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,143 shares of the company’s stock after buying an additional 5,040 shares during the period. Ritholtz Wealth Management’s holdings in Coca-Cola were worth $2,588,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Norges Bank bought a new stake in Coca-Cola in the fourth quarter worth $2,222,027,000. GQG Partners LLC boosted its position in Coca-Cola by 5,862.0% in the first quarter. GQG Partners LLC now owns 12,930,640 shares of the company’s stock valued at $801,538,000 after buying an additional 12,713,757 shares during the last quarter. BlackRock Inc. boosted its position in Coca-Cola by 3.7% in the 4th quarter. BlackRock Inc. now owns 279,741,946 shares of the company’s stock worth $16,563,519,000 after purchasing an additional 9,884,447 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Coca-Cola by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 351,220,018 shares of the company’s stock valued at $21,775,641,000 after buying an additional 8,961,600 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Coca-Cola by 10.7% in the 1st quarter. Wellington Management Group LLP now owns 80,654,038 shares of the company’s stock valued at $5,000,550,000 after purchasing an additional 7,800,237 shares during the last quarter. 68.93% of the stock is owned by hedge funds and other institutional investors.
Coca-Cola Stock Down 1.0 %
Shares of NYSE KO traded down $0.59 during mid-day trading on Friday, reaching $58.67. 110,212 shares of the company’s stock traded hands, compared to its average volume of 12,330,705. The Coca-Cola Company has a 1-year low of $52.28 and a 1-year high of $67.20. The stock has a market cap of $253.73 billion, a P/E ratio of 26.81, a PEG ratio of 3.76 and a beta of 0.54. The business has a 50-day simple moving average of $62.58 and a 200 day simple moving average of $62.67. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.13 and a quick ratio of 0.95.
Coca-Cola Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 16th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.00%. The ex-dividend date is Thursday, September 15th. Coca-Cola’s dividend payout ratio is presently 79.64%.
Insider Buying and Selling
In related news, Director Carolyn Everson bought 983 shares of the stock in a transaction dated Wednesday, July 27th. The stock was purchased at an average cost of $62.29 per share, with a total value of $61,231.07. Following the completion of the purchase, the director now owns 1,500 shares of the company’s stock, valued at $93,435. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO James Quincey sold 32,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the transaction, the chief executive officer now owns 351,737 shares in the company, valued at approximately $22,542,824.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Everson acquired 983 shares of Coca-Cola stock in a transaction that occurred on Wednesday, July 27th. The stock was purchased at an average cost of $62.29 per share, with a total value of $61,231.07. Following the completion of the purchase, the director now owns 1,500 shares in the company, valued at approximately $93,435. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 45,830 shares of company stock worth $2,939,961. Insiders own 0.98% of the company’s stock.
Analysts Set New Price Targets
KO has been the topic of several research analyst reports. Royal Bank of Canada set a $69.00 target price on Coca-Cola in a research report on Tuesday, July 26th. Morgan Stanley cut their price target on Coca-Cola from $76.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Credit Suisse Group set a $68.00 target price on Coca-Cola in a research note on Wednesday, July 20th. HSBC upped their price target on Coca-Cola from $72.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Finally, JPMorgan Chase & Co. set a $70.00 target price on Coca-Cola in a research report on Tuesday, July 26th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.59.
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
- Get a free copy of the StockNews.com research report on Coca-Cola (KO)
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