Russell Investments Group Ltd. lifted its stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,411,282 shares of the company's stock after acquiring an additional 25,339 shares during the period. Russell Investments Group Ltd. owned 0.06% of CocaCola worth $172,435,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of KO. MorganRosel Wealth Management LLC purchased a new position in shares of CocaCola during the 1st quarter worth $25,000. Garde Capital Inc. acquired a new position in CocaCola in the first quarter valued at about $30,000. Mizuho Securities Co. Ltd. lifted its position in CocaCola by 360.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock valued at $33,000 after buying an additional 360 shares during the last quarter. Ridgewood Investments LLC boosted its stake in CocaCola by 148.4% during the first quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after buying an additional 285 shares during the period. Finally, REAP Financial Group LLC increased its position in shares of CocaCola by 57.5% during the fourth quarter. REAP Financial Group LLC now owns 570 shares of the company's stock valued at $35,000 after acquiring an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company's stock.
Insider Buying and Selling
In other CocaCola news, CEO James Quincey sold 266,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer directly owned 275,946 shares of the company's stock, valued at $19,884,668.76. This represents a 49.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $69.10, for a total value of $2,584,063.60. Following the completion of the transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. The trade was a 15.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company's stock.
CocaCola Trading Down 1.3%
Shares of NYSE:KO traded down $0.89 during trading on Thursday, reaching $69.57. 10,708,941 shares of the stock were exchanged, compared to its average volume of 16,931,184. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The firm has a market cap of $299.40 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 3.68 and a beta of 0.44. The firm's 50-day moving average price is $70.08 and its 200 day moving average price is $70.02.
CocaCola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion during the quarter, compared to analysts' expectations of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. On average, sell-side analysts anticipate that CocaCola Company will post 2.96 earnings per share for the current fiscal year.
CocaCola Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. CocaCola's dividend payout ratio is presently 72.34%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on KO shares. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price target on shares of CocaCola in a research note on Monday, June 9th. UBS Group reduced their price target on shares of CocaCola from $86.00 to $84.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. BNP Paribas reissued an "outperform" rating and issued a $83.00 price target on shares of CocaCola in a research note on Monday, July 21st. JPMorgan Chase & Co. boosted their price target on shares of CocaCola from $77.00 to $79.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 price target on shares of CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $77.21.
Read Our Latest Stock Report on KO
About CocaCola
(
Free Report)
The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. 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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