Piscataqua Savings Bank cut its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,708 shares of the company’s stock after selling 360 shares during the period. Piscataqua Savings Bank’s holdings in Coca-Cola were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Moneta Group Investment Advisors LLC lifted its stake in Coca-Cola by 103,297.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after acquiring an additional 57,678,466 shares in the last quarter. Norges Bank bought a new stake in shares of Coca-Cola in the fourth quarter worth $2,937,315,000. Morgan Stanley grew its position in Coca-Cola by 15.7% in the fourth quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock valued at $5,031,669,000 after purchasing an additional 10,722,435 shares in the last quarter. Gateway Advisory LLC increased its stake in Coca-Cola by 26,580.3% in the 1st quarter. Gateway Advisory LLC now owns 4,330,750 shares of the company’s stock valued at $4,331,000 after buying an additional 4,314,518 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Coca-Cola by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 58,090,088 shares of the company’s stock worth $3,662,834,000 after buying an additional 4,147,833 shares during the last quarter. 68.96% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have weighed in on KO. Royal Bank of Canada raised their price target on Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. JPMorgan Chase & Co. lifted their price objective on shares of Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Barclays raised their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Wedbush boosted their price target on Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Finally, StockNews.com began coverage on Coca-Cola in a report on Thursday, August 17th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $68.33.
Insider Buying and Selling at Coca-Cola
In related news, SVP Beatriz R. Perez sold 50,000 shares of Coca-Cola stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Beatriz R. Perez sold 50,000 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now owns 143,383 shares in the company, valued at approximately $8,984,378.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO John Murphy sold 156,290 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the completion of the transaction, the chief financial officer now owns 228,830 shares of the company’s stock, valued at $14,210,343. The disclosure for this sale can be found here. In the last quarter, insiders have sold 227,364 shares of company stock valued at $14,122,016. 1.00% of the stock is currently owned by corporate insiders.
Coca-Cola Stock Up 0.6 %
Shares of KO opened at $58.30 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $252.11 billion, a PE ratio of 23.99, a P/E/G ratio of 3.40 and a beta of 0.55. The firm’s 50 day moving average is $60.49 and its 200-day moving average is $61.25. The Coca-Cola Company has a 12 month low of $54.01 and a 12 month high of $64.99.
Coca-Cola (NYSE:KO – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. The firm had revenue of $12 billion during the quarter, compared to analysts’ expectations of $11.74 billion. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 EPS. Equities research analysts forecast that The Coca-Cola Company will post 2.63 EPS for the current year.
Coca-Cola Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th 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 3.16%. The ex-dividend date of this dividend is Thursday, September 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 75.72%.
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.
- Five stocks we like better than Coca-Cola
- Most Active Stocks: Dollar Volume vs Share Volume
- 2 Beauty Stocks Beaten By the Ugly Stick But Ready to Rally
- Stock Splits, Do They Really Impact Investors?
- Got Nuclear? Three Stocks To Play Energy’s Next Frontier
- How to Calculate Options Profits
- The Top 4 Utilities for Value, Yield, and Upside Potential
Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.