Krilogy Financial LLC bought a new stake in shares of Coca-Cola Co (The) (NYSE:KO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,364 shares of the company’s stock, valued at approximately $1,133,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Costello Asset Management INC purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at $25,000. PrairieView Partners LLC purchased a new stake in shares of Coca-Cola during the 1st quarter valued at $27,000. Evolution Wealth Advisors LLC lifted its holdings in shares of Coca-Cola by 112.5% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after purchasing an additional 332 shares during the last quarter. Pearl River Capital LLC purchased a new position in Coca-Cola in the 1st quarter worth $30,000. Finally, Stonebridge Financial Planning Group LLC raised its stake in Coca-Cola by 43.5% in the 1st quarter. Stonebridge Financial Planning Group LLC now owns 990 shares of the company’s stock worth $47,000 after acquiring an additional 300 shares during the last quarter. 67.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:KO traded up $0.07 during trading on Friday, reaching $48.45. 10,025,970 shares of the company’s stock traded hands, compared to its average volume of 18,399,135. Coca-Cola Co has a fifty-two week low of $36.27 and a fifty-two week high of $60.13. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 1.97. The firm has a market cap of $208.11 billion, a PE ratio of 22.86, a P/E/G ratio of 5.52 and a beta of 0.55. The company has a 50-day simple moving average of $46.30 and a 200-day simple moving average of $48.78.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.38%. The ex-dividend date is Monday, September 14th. Coca-Cola’s payout ratio is 77.73%.
In other Coca-Cola news, Director David B. Weinberg sold 400,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $48.42, for a total value of $19,368,000.00. Following the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at approximately $17,199,461.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Weinberg sold 98,905 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $48.50, for a total transaction of $4,796,892.50. Following the completion of the transaction, the director now directly owns 355,214 shares in the company, valued at $17,227,879. The disclosure for this sale can be found here. Over the last quarter, insiders sold 836,439 shares of company stock worth $40,380,407. 1.01% of the stock is currently owned by insiders.
KO has been the subject of a number of research analyst reports. Citigroup reduced their target price on Coca-Cola from $63.00 to $51.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Morgan Stanley upgraded Coca-Cola from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $52.00 to $54.00 in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. Cfra reduced their target price on Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating for the company in a research note on Tuesday, April 21st. Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating and set a $49.00 target price for the company. in a research note on Wednesday, May 27th. Finally, Royal Bank of Canada reduced their target price on Coca-Cola from $57.00 to $55.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $54.05.
Coca-Cola Company 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 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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