Handelsbanken Fonder AB Invests $39.67 Million in Coca-Cola Co (The) (NYSE:KO)

Handelsbanken Fonder AB bought a new position in shares of Coca-Cola Co (The) (NYSE:KO) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 887,789 shares of the company’s stock, valued at approximately $39,666,000.

Several other hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its position in shares of Coca-Cola by 17.6% during the second quarter. Sequoia Financial Advisors LLC now owns 22,975 shares of the company’s stock worth $1,027,000 after purchasing an additional 3,433 shares in the last quarter. Stephens Inc. AR lifted its holdings in Coca-Cola by 2.1% in the second quarter. Stephens Inc. AR now owns 1,194,638 shares of the company’s stock valued at $53,376,000 after buying an additional 24,598 shares during the period. Asset Dedication LLC lifted its holdings in Coca-Cola by 9.2% in the second quarter. Asset Dedication LLC now owns 22,706 shares of the company’s stock valued at $1,022,000 after buying an additional 1,912 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Coca-Cola by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 34,334,403 shares of the company’s stock valued at $1,534,062,000 after buying an additional 439,125 shares during the period. Finally, Rockbridge Investment Management LCC acquired a new position in Coca-Cola in the second quarter valued at approximately $323,000. Institutional investors own 65.86% of the company’s stock.

In other news, SVP Robert Edward Long sold 37,534 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $48.21, for a total transaction of $1,809,514.14. Following the completion of the sale, the senior vice president now owns 82,502 shares in the company, valued at approximately $3,977,421.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David B. Weinberg sold 98,905 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 355,214 shares of the company’s stock, valued at approximately $17,227,879. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 836,439 shares of company stock valued at $40,380,407. 1.01% of the stock is currently owned by corporate insiders.

Several equities analysts recently weighed in on KO shares. Bank of America restated a “buy” rating and issued a $53.00 price objective on shares of Coca-Cola in a report on Friday, July 17th. Zacks Investment Research downgraded 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 note on Wednesday, May 27th. Finally, Morgan Stanley raised shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $52.00 to $54.00 in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Coca-Cola presently has a consensus rating of “Buy” and a consensus price target of $54.05.

KO stock traded up $0.25 during trading hours on Tuesday, reaching $50.96. The stock had a trading volume of 688,143 shares, compared to its average volume of 17,988,787. The stock has a market capitalization of $217.82 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 5.91 and a beta of 0.55. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.09 and a quick ratio of 0.96. The stock has a 50-day simple moving average of $48.71 and a 200 day simple moving average of $47.24. Coca-Cola Co has a fifty-two week low of $36.27 and a fifty-two week high of $60.13.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 21st. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $7.26 billion. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The company’s revenue for the quarter was down 28.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. On average, sell-side analysts forecast that Coca-Cola Co will post 1.8 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Monday, September 14th. Coca-Cola’s dividend payout ratio is presently 77.73%.

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

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