Laurel Wealth Advisors Inc. grew its stake in shares of The Coca-Cola Co (NYSE:KO) by 2.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,860 shares of the company’s stock after purchasing an additional 721 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in The Coca-Cola were worth $1,775,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of KO. Northern Trust Corp boosted its holdings in The Coca-Cola by 1.1% during the second quarter. Northern Trust Corp now owns 52,096,293 shares of the company’s stock worth $2,652,743,000 after purchasing an additional 589,927 shares during the last quarter. Geode Capital Management LLC boosted its position 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 buying an additional 4,528,987 shares during the last quarter. Clearbridge Investments LLC boosted its position in The Coca-Cola by 4.2% in the first quarter. Clearbridge Investments LLC now owns 16,562,369 shares of the company’s stock valued at $776,113,000 after buying an additional 660,240 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in The Coca-Cola by 3.2% in the second quarter. Parametric Portfolio Associates LLC now owns 11,880,531 shares of the company’s stock valued at $604,957,000 after buying an additional 368,714 shares during the last quarter. Finally, APG Asset Management N.V. boosted its position in The Coca-Cola by 3.3% in the 2nd quarter. APG Asset Management N.V. now owns 7,564,370 shares of the company’s stock worth $338,231,000 after purchasing an additional 244,071 shares in the last quarter. 67.59% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:KO traded down $0.39 during midday trading on Friday, reaching $54.72. 94,605 shares of the company’s stock were exchanged, compared to its average volume of 10,778,863. The firm’s 50 day simple moving average is $54.00 and its two-hundred day simple moving average is $50.00. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71. The stock has a market cap of $232.62 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 3.78 and a beta of 0.44. The Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $55.92.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio (DPR) is 76.92%.
In related news, SVP Lisa Chang acquired 500 shares of the firm’s stock in a transaction dated 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 owns 5,448 shares of the company’s stock, valued at approximately $290,051.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Brian John Smith sold 60,000 shares of The Coca-Cola stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $54.87, for a total value of $3,292,200.00. Following the completion of the transaction, 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 have sold a total of 299,001 shares of company stock valued at $16,206,741 over the last 90 days. 1.33% of the stock is currently owned by company insiders.
KO has been the topic of several recent research reports. Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Tuesday, June 4th. SunTrust Banks upped their price objective on The Coca-Cola to $60.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Atlantic Securities assumed coverage on The Coca-Cola in a research report on Monday, July 29th. They issued an “overweight” rating and a $62.00 price objective on the stock. Barclays set a $54.00 target price on The Coca-Cola and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, Morgan Stanley set a $60.00 target price on The Coca-Cola and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $54.10.
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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