SevenBridge Financial Group LLC Has $434,000 Stock Holdings in The Coca-Cola Company (NYSE:KO)

SevenBridge Financial Group LLC lowered its position in shares of The Coca-Cola Company (NYSE:KOGet Rating) by 5.6% in the second quarter, Holdings Channel reports. The firm owned 6,903 shares of the company’s stock after selling 410 shares during the period. SevenBridge Financial Group LLC’s holdings in Coca-Cola were worth $434,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Coca-Cola during the fourth quarter worth approximately $2,222,027,000. GQG Partners LLC increased its holdings in shares of Coca-Cola by 5,862.0% during the first quarter. GQG Partners LLC now owns 12,930,640 shares of the company’s stock worth $801,538,000 after purchasing an additional 12,713,757 shares during the period. BlackRock Inc. boosted its stake in shares of Coca-Cola by 3.7% in the fourth quarter. BlackRock Inc. now owns 279,741,946 shares of the company’s stock valued at $16,563,519,000 after buying an additional 9,884,447 shares during the period. Vanguard Group Inc. grew its position in Coca-Cola by 2.6% during the first quarter. Vanguard Group Inc. now owns 351,220,018 shares of the company’s stock worth $21,775,641,000 after buying an additional 8,961,600 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Coca-Cola by 10.7% during the 1st quarter. Wellington Management Group LLP now owns 80,654,038 shares of the company’s stock worth $5,000,550,000 after acquiring an additional 7,800,237 shares during the period. Institutional investors and hedge funds own 68.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KO. Royal Bank of Canada set a $69.00 price target on Coca-Cola in a research report on Tuesday, July 26th. Morgan Stanley decreased their price target on shares of Coca-Cola from $76.00 to $74.00 and set an “overweight” rating on the stock in a report on Wednesday, July 27th. HSBC raised their price objective on shares of Coca-Cola from $72.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. StockNews.com upgraded Coca-Cola from a “hold” rating to a “buy” rating in a research report on Saturday, August 6th. Finally, JPMorgan Chase & Co. set a $70.00 target price on shares of Coca-Cola in a report on Tuesday, July 26th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.59.

Coca-Cola Trading Down 0.5 %

Shares of KO stock opened at $59.27 on Monday. 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 capitalization of $256.32 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 3.77 and a beta of 0.54. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.13 and a quick ratio of 0.95. The company’s fifty day simple moving average is $62.81 and its two-hundred day simple moving average is $62.74.

Coca-Cola (NYSE:KOGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. Coca-Cola had a return on equity of 42.13% and a net margin of 23.16%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same period last year, the firm posted $0.68 EPS. Coca-Cola’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that The Coca-Cola Company will post 2.46 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be given a $0.44 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.97%. Coca-Cola’s dividend payout ratio is currently 79.64%.

Insider Activity at Coca-Cola

In other news, VP Kathy Loveless sold 2,512 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $64.00, for a total value of $160,768.00. Following the completion of the transaction, the vice president now owns 1,370 shares in the company, valued at $87,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Henrique Braun sold 11,318 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $64.35, for a total transaction of $728,313.30. Following the completion of the transaction, the insider now directly owns 22,828 shares of the company’s stock, valued at $1,468,981.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Kathy Loveless sold 2,512 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $64.00, for a total transaction of $160,768.00. Following the sale, the vice president now directly owns 1,370 shares in the company, valued at approximately $87,680. The disclosure for this sale can be found here. Insiders sold a total of 45,830 shares of company stock valued at $2,939,961 in the last 90 days. Corporate insiders own 0.98% of the company’s stock.

Coca-Cola Company Profile

(Get Rating)

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.

Further Reading

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

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