Pinebridge Investments L.P. boosted its holdings in The Coca-Cola Co (NYSE:KO) by 39.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,027 shares of the company’s stock after purchasing an additional 58,307 shares during the quarter. Pinebridge Investments L.P.’s holdings in The Coca-Cola were worth $10,541,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of The Coca-Cola by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after acquiring an additional 4,528,987 shares during the period. KAMES CAPITAL plc grew its position in shares of The Coca-Cola by 93.5% in the 1st quarter. KAMES CAPITAL plc now owns 62,340 shares of the company’s stock valued at $2,921,000 after acquiring an additional 30,122 shares during the period. Dynamic Advisor Solutions LLC grew its position in shares of The Coca-Cola by 25.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 43,591 shares of the company’s stock valued at $2,043,000 after acquiring an additional 8,828 shares during the period. Dfpg Investments Inc. bought a new position in shares of The Coca-Cola in the 1st quarter valued at about $204,000. Finally, Rowland & Co. Investment Counsel ADV grew its position in shares of The Coca-Cola by 2.2% in the 1st quarter. Rowland & Co. Investment Counsel ADV now owns 246,186 shares of the company’s stock valued at $11,536,000 after acquiring an additional 5,215 shares during the period. Institutional investors and hedge funds own 67.59% of the company’s stock.
In other The Coca-Cola news, SVP Lisa Chang acquired 500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $53.24 per share, for a total transaction of $26,620.00. Following the purchase, the senior vice president now directly owns 5,448 shares of the company’s stock, valued at $290,051.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Brian John Smith sold 60,000 shares of The Coca-Cola stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $54.87, for a total transaction of $3,292,200.00. Following the completion of the sale, the chief operating officer now owns 174,302 shares of the company’s stock, valued at approximately $9,563,950.74. The disclosure for this sale can be found here. Insiders sold a total of 299,001 shares of company stock valued at $16,206,741 in the last quarter. Corporate insiders own 1.33% of the company’s stock.
Shares of KO stock traded down $0.89 during midday trading on Friday, hitting $54.22. 413,987 shares of the company were exchanged, compared to its average volume of 10,778,863. The firm has a market capitalization of $232.62 billion, a P/E ratio of 26.06, a PEG ratio of 3.78 and a beta of 0.44. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83. The firm’s 50 day moving average price is $54.00 and its two-hundred day moving average price is $50.00. The Coca-Cola Co has a 52 week low of $44.25 and a 52 week high of $55.92.
The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The Coca-Cola’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 EPS. Analysts expect that The Coca-Cola Co will post 2.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.95%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio (DPR) is 76.92%.
A number of research analysts have recently commented on the stock. SunTrust Banks lifted their price objective on shares of The Coca-Cola to $60.00 and gave the company a “positive” rating in a research report on Wednesday, July 24th. Bank of America reissued a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of The Coca-Cola in a research report on Wednesday, July 24th. Credit Suisse Group lifted their price objective on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. BMO Capital Markets lifted their price objective on shares of The Coca-Cola from $48.00 to $52.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Finally, Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Tuesday, June 4th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $54.10.
The Coca-Cola 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 plantbased 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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