Institute for Wealth Management LLC. Buys 990 Shares of Coca-Cola Co (The) (NYSE:KO)

Institute for Wealth Management LLC. increased its stake in shares of Coca-Cola Co (The) (NYSE:KO) by 7.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,089 shares of the company’s stock after buying an additional 990 shares during the period. Institute for Wealth Management LLC.’s holdings in Coca-Cola were worth $629,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. ARP Americas LP acquired a new stake in Coca-Cola in the 2nd quarter worth about $652,000. Community Bank N.A. raised its stake in Coca-Cola by 16.1% in the 2nd quarter. Community Bank N.A. now owns 157,563 shares of the company’s stock worth $7,040,000 after purchasing an additional 21,880 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its stake in Coca-Cola by 46.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 2,345,609 shares of the company’s stock worth $104,801,000 after purchasing an additional 744,669 shares in the last quarter. Sicart Associates LLC raised its stake in Coca-Cola by 7.8% in the 2nd quarter. Sicart Associates LLC now owns 98,054 shares of the company’s stock worth $4,417,000 after purchasing an additional 7,071 shares in the last quarter. Finally, Lyell Wealth Management LP raised its stake in Coca-Cola by 22.7% in the 2nd quarter. Lyell Wealth Management LP now owns 7,484 shares of the company’s stock worth $337,000 after purchasing an additional 1,384 shares in the last quarter. 67.40% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:KO traded down $0.45 during trading on Friday, reaching $47.24. The stock had a trading volume of 14,850,566 shares, compared to its average volume of 16,251,326. The stock has a market cap of $202.92 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 5.46 and a beta of 0.54. Coca-Cola Co has a 52 week low of $36.27 and a 52 week high of $60.13. The firm’s fifty day moving average is $45.98 and its 200 day moving average is $49.34. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.96 and a current ratio of 1.09.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.26 billion. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. Coca-Cola’s revenue was down 28.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, research analysts forecast that Coca-Cola Co will post 1.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.47%. The ex-dividend date is Monday, September 14th. Coca-Cola’s dividend payout ratio is presently 77.73%.

In other Coca-Cola news, Director David B. Weinberg sold 200,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $48.02, for a total transaction of $9,604,000.00. Following the transaction, the director now owns 355,214 shares in the company, valued at $17,057,376.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David B. Weinberg sold 400,000 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $48.42, for a total transaction of $19,368,000.00. Following the transaction, the director now owns 355,214 shares in the company, valued at approximately $17,199,461.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 698,905 shares of company stock worth $33,768,893. 1.01% of the stock is owned by insiders.

Several brokerages have recently commented on KO. Jefferies Financial Group dropped their target price on shares of Coca-Cola from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Royal Bank of Canada dropped their target price on shares of Coca-Cola from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Cfra dropped their target price on shares of Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating for the company in a research report on Tuesday, April 21st. Citigroup dropped their target price on shares of Coca-Cola from $63.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, April 22nd. Finally, Zacks Investment Research cut shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $49.00 target price for the company. in a research report on Wednesday, May 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Coca-Cola currently has an average rating of “Buy” and an average target price of $54.05.

About Coca-Cola

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

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