Wheatland Advisors Inc. decreased its holdings in shares of The Coca-Cola Co (NYSE:KO) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,350 shares of the company’s stock after selling 500 shares during the quarter. Wheatland Advisors Inc.’s holdings in The Coca-Cola were worth $1,189,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of The Coca-Cola by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,305,208 shares of the company’s stock valued at $535,295,000 after acquiring an additional 183,316 shares during the period. Geode Capital Management LLC boosted its stake in The Coca-Cola by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after purchasing an additional 4,528,987 shares during the period. Thrivent Financial for Lutherans boosted its stake in The Coca-Cola by 0.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 706,483 shares of the company’s stock worth $33,279,000 after purchasing an additional 5,284 shares during the period. Halsey Associates Inc. CT boosted its stake in The Coca-Cola by 9.3% in the 4th quarter. Halsey Associates Inc. CT now owns 82,246 shares of the company’s stock worth $3,894,000 after purchasing an additional 7,000 shares during the period. Finally, Legal & General Group Plc boosted its stake in The Coca-Cola by 7.0% in the 4th quarter. Legal & General Group Plc now owns 19,459,018 shares of the company’s stock worth $921,367,000 after purchasing an additional 1,271,906 shares during the period. Institutional investors and hedge funds own 66.84% of the company’s stock.
NYSE:KO traded down $0.75 during midday trading on Friday, hitting $53.74. 9,573,642 shares of the company traded hands, compared to its average volume of 12,777,964. The firm’s fifty day moving average is $52.94 and its 200-day moving average is $49.30. The Coca-Cola Co has a 12-month low of $44.25 and a 12-month high of $54.82. The firm has a market capitalization of $233.00 billion, a P/E ratio of 25.84, a P/E/G ratio of 3.79 and a beta of 0.48. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 1.44.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. The Coca-Cola’s payout ratio is 76.92%.
In other The Coca-Cola news, insider Nikolaos Koumettis sold 146,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $54.31, for a total value of $7,929,260.00. Following the sale, the insider now owns 244,451 shares in the company, valued at $13,276,133.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP John Murphy sold 84,400 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $49.99, for a total value of $4,219,156.00. Following the completion of the sale, the vice president now owns 133,715 shares in the company, valued at approximately $6,684,412.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 488,761 shares of company stock worth $25,417,705. Insiders own 1.33% of the company’s stock.
A number of research analysts have recently commented on the company. Credit Suisse Group increased their target price on The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. BMO Capital Markets increased their target price on The Coca-Cola from $48.00 to $52.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Tuesday, June 4th. ValuEngine upgraded The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Finally, HSBC reiterated a “neutral” rating and set a $52.00 target price on shares of The Coca-Cola in a research report on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $54.10.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased 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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