Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Coca-Cola Co (The) (NYSE:KO) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,266,693 shares of the company’s stock after selling 54,943 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.10% of Coca-Cola worth $190,636,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in KO. Costello Asset Management INC bought a new position in shares of Coca-Cola during the second quarter valued at $25,000. Evolution Wealth Advisors LLC raised its position in Coca-Cola by 112.5% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 332 shares during the last quarter. Anderson Fisher LLC lifted its holdings in Coca-Cola by 26.5% during the 2nd quarter. Anderson Fisher LLC now owns 1,142 shares of the company’s stock worth $51,000 after buying an additional 239 shares during the period. AlphaMark Advisors LLC grew its position in shares of Coca-Cola by 22.2% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,205 shares of the company’s stock valued at $54,000 after buying an additional 219 shares during the last quarter. Finally, Blue Square Asset Management LLC acquired a new stake in shares of Coca-Cola in the second quarter valued at about $66,000. Hedge funds and other institutional investors own 65.86% of the company’s stock.
Shares of Coca-Cola stock traded down $0.26 during trading hours on Wednesday, reaching $50.79. The company’s stock had a trading volume of 15,353,355 shares, compared to its average volume of 17,945,289. The company has a market capitalization of $219.28 billion, a P/E ratio of 23.96, a P/E/G ratio of 5.91 and a beta of 0.55. The stock’s fifty day simple moving average is $48.75 and its two-hundred day simple moving average is $47.20. Coca-Cola Co has a one year low of $36.27 and a one year high of $60.13. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.96 and a current ratio of 1.09.
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 given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $1.64 annualized dividend and a dividend yield of 3.23%. Coca-Cola’s payout ratio is 77.73%.
KO has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating and set a $49.00 price objective on the stock. in a research note on Wednesday, May 27th. Bank of America reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Coca-Cola in a research note on Friday, July 17th. Finally, Morgan Stanley raised shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and lifted 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. One equities 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 stock. The company has an average rating of “Buy” and a consensus target price of $54.05.
In related news, SVP Robert Edward Long sold 37,534 shares of the business’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 transaction, the senior vice president now directly owns 82,502 shares in the company, valued at $3,977,421.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David B. Weinberg sold 98,905 shares of the company’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 completion of the sale, the director now directly owns 355,214 shares of the company’s stock, valued at $17,227,879. The disclosure for this sale can be found here. Insiders sold a total of 836,439 shares of company stock valued at $40,380,407 over the last three months. 1.01% of the stock is currently owned by insiders.
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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