Sigma Investment Counselors Inc. boosted its stake in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 9.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,955 shares of the company’s stock after buying an additional 5,153 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Coca-Cola were worth $3,835,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Coca-Cola by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 351,220,018 shares of the company’s stock worth $21,775,641,000 after buying an additional 8,961,600 shares in the last quarter. BlackRock Inc. raised its position in shares of Coca-Cola by 3.7% during the 4th quarter. BlackRock Inc. now owns 279,741,946 shares of the company’s stock valued at $16,563,519,000 after acquiring an additional 9,884,447 shares in the last quarter. State Street Corp increased its holdings in shares of Coca-Cola by 0.8% during the first quarter. State Street Corp now owns 171,972,013 shares of the company’s stock valued at $10,737,003,000 after purchasing an additional 1,374,105 shares during the period. Wellington Management Group LLP boosted its stake in Coca-Cola by 10.7% during the first quarter. Wellington Management Group LLP now owns 80,654,038 shares of the company’s stock valued at $5,000,550,000 after buying an additional 7,800,237 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Coca-Cola by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 51,570,921 shares of the company’s stock valued at $3,197,397,000 after buying an additional 1,301,902 shares in the last quarter. Hedge funds and other institutional investors own 68.93% of the company’s stock.
Wall Street Analysts Forecast Growth
KO has been the topic of a number of recent analyst reports. Credit Suisse Group set a $68.00 price objective on Coca-Cola in a research note on Wednesday, July 20th. HSBC boosted their price target on Coca-Cola from $72.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th. Royal Bank of Canada set a $69.00 price objective on Coca-Cola in a research report on Tuesday, July 26th. Morgan Stanley dropped their target price on Coca-Cola from $76.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. set a $70.00 price objective on Coca-Cola in a report on Tuesday, July 26th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.59.
Coca-Cola Stock Performance
Coca-Cola (NYSE:KO – Get Rating) last announced its earnings results on Tuesday, July 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. Coca-Cola had a net margin of 23.16% and a return on equity of 42.13%. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $10.57 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.46 EPS for the current fiscal year.
Coca-Cola Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 16th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, September 15th. Coca-Cola’s dividend payout ratio is currently 79.64%.
Insider Buying and Selling
In related news, Director Carolyn Everson purchased 983 shares of Coca-Cola stock in a transaction on Wednesday, July 27th. The shares were bought at an average cost of $62.29 per share, for a total transaction of $61,231.07. Following the acquisition, the director now owns 1,500 shares in the company, valued at approximately $93,435. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, Director Carolyn Everson acquired 983 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was acquired at an average cost of $62.29 per share, with a total value of $61,231.07. Following the purchase, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $93,435. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James Quincey sold 32,000 shares of Coca-Cola stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the transaction, the chief executive officer now directly owns 351,737 shares of the company’s stock, valued at $22,542,824.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,830 shares of company stock worth $2,939,961. 0.98% of the stock is owned by insiders.
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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