Hartford Investment Management Co. raised its position in The Coca-Cola Co (NYSE:KO) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 577,175 shares of the company’s stock after purchasing an additional 2,866 shares during the quarter. The Coca-Cola makes up approximately 0.8% of Hartford Investment Management Co.’s holdings, making the stock its 27th biggest position. Hartford Investment Management Co.’s holdings in The Coca-Cola were worth $29,390,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Norges Bank purchased a new position in The Coca-Cola in the fourth quarter valued at about $1,717,527,000. FMR LLC grew its stake in The Coca-Cola by 22.2% in the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after purchasing an additional 11,126,961 shares in the last quarter. Geode Capital Management LLC grew its stake in The Coca-Cola by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock valued at $2,200,726,000 after purchasing an additional 4,528,987 shares in the last quarter. Avalon Advisors LLC grew its stake in The Coca-Cola by 203.4% in the fourth quarter. Avalon Advisors LLC now owns 3,018,294 shares of the company’s stock valued at $142,916,000 after purchasing an additional 2,023,309 shares in the last quarter. Finally, Ronna Sue Cohen grew its stake in The Coca-Cola by 4,409.4% in the first quarter. Ronna Sue Cohen now owns 1,992,242 shares of the company’s stock valued at $1,992,000 after purchasing an additional 1,948,062 shares in the last quarter. Hedge funds and other institutional investors own 66.64% of the company’s stock.
Shares of NYSE:KO opened at $52.32 on Monday. The Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $54.82. The business has a 50-day moving average of $52.04. The firm has a market capitalization of $223.76 billion, a PE ratio of 25.15, a P/E/G ratio of 3.64 and a beta of 0.48. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 13th. This represents a $1.60 annualized dividend and a dividend yield of 3.06%. The Coca-Cola’s dividend payout ratio is presently 76.92%.
A number of research analysts have commented on KO shares. Wells Fargo & Co boosted their target price on The Coca-Cola from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a research report on Wednesday, July 24th. ValuEngine raised The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Credit Suisse Group boosted their price target on The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, SunTrust Banks boosted their price target on The Coca-Cola to $60.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $53.86.
In related news, VP Bernhard Goepelt sold 13,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $48.96, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president now owns 151,504 shares of the company’s stock, valued at approximately $7,417,635.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer K. Mann sold 9,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $51.88, for a total value of $466,920.00. Following the transaction, the insider now directly owns 41,049 shares of the company’s stock, valued at approximately $2,129,622.12. The disclosure for this sale can be found here. Insiders have sold a total of 369,175 shares of company stock valued at $18,634,452 in the last three months. 1.33% of the stock is owned by insiders.
About The Coca-Cola
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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