Bridgeway Capital Management LLC Has $20.49 Million Holdings in CocaCola Company (The) $KO

Bridgeway Capital Management LLC increased its holdings in shares of CocaCola Company (The) (NYSE:KO) by 8.6% during the second quarter, Holdings Channel reports. The fund owned 289,584 shares of the company’s stock after purchasing an additional 22,851 shares during the period. Bridgeway Capital Management LLC’s holdings in CocaCola were worth $20,488,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of CocaCola during the second quarter worth $3,846,270,000. Wellington Management Group LLP raised its holdings in shares of CocaCola by 52.7% in the first quarter. Wellington Management Group LLP now owns 47,447,430 shares of the company’s stock valued at $3,398,185,000 after buying an additional 16,383,870 shares during the last quarter. Vanguard Group Inc. lifted its position in CocaCola by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 367,441,971 shares of the company’s stock worth $25,996,519,000 after buying an additional 6,241,163 shares in the last quarter. Laurel Wealth Advisors LLC lifted its position in CocaCola by 7,239.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,149,632 shares of the company’s stock worth $435,086,000 after buying an additional 6,065,840 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in CocaCola by 47.4% during the 1st quarter. Raymond James Financial Inc. now owns 11,844,673 shares of the company’s stock worth $848,315,000 after acquiring an additional 3,810,752 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of CocaCola from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. UBS Group reissued a “buy” rating on shares of CocaCola in a report on Friday, December 5th. Cowen reaffirmed a “buy” rating on shares of CocaCola in a report on Wednesday, October 22nd. Evercore ISI reiterated an “outperform” rating on shares of CocaCola in a research report on Tuesday, October 21st. Finally, TD Cowen lifted their target price on CocaCola from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and fifteen have issued a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $79.08.

Insider Activity

In other news, Director Max R. Levchin acquired 7,206 shares of CocaCola stock in a transaction that occurred on Friday, October 24th. The shares were acquired at an average price of $69.87 per share, with a total value of $503,483.22. Following the purchase, the director directly owned 14,267 shares of the company’s stock, valued at $996,835.29. The trade was a 102.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Henrique Braun sold 40,390 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,864,862.70. Following the transaction, the chief operating officer owned 62,621 shares of the company’s stock, valued at approximately $4,441,707.53. This represents a 39.21% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 225,252 shares of company stock valued at $15,953,007. Insiders own 0.97% of the company’s stock.

CocaCola Price Performance

Shares of KO stock opened at $70.51 on Friday. The firm’s 50 day moving average price is $69.85 and its two-hundred day moving average price is $69.50. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.00 and a current ratio of 1.21. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock has a market cap of $303.29 billion, a PE ratio of 23.35, a PEG ratio of 3.84 and a beta of 0.39.

CocaCola (NYSE:KO) last issued its earnings results on Thursday, March 27th. The company reported $0.55 EPS for the quarter. CocaCola had a net margin of 27.34% and a return on equity of 43.62%. The company had revenue of $11.40 billion during the quarter. As a group, analysts forecast that CocaCola Company will post 2.96 EPS for the current year.

CocaCola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.04 annualized dividend and a yield of 2.9%. CocaCola’s dividend payout ratio is presently 67.55%.

About CocaCola

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.