Allworth Financial LP Has $2.62 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Allworth Financial LP cut its holdings in The Coca-Cola Company (NYSE:KOGet Rating) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,705 shares of the company’s stock after selling 638 shares during the period. Allworth Financial LP’s holdings in Coca-Cola were worth $2,624,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Coca-Cola in the fourth quarter worth $2,222,027,000. GQG Partners LLC increased its holdings in shares of Coca-Cola by 5,862.0% in the first quarter. GQG Partners LLC now owns 12,930,640 shares of the company’s stock worth $801,538,000 after buying an additional 12,713,757 shares during the period. BlackRock Inc. grew its stake in shares of Coca-Cola by 3.7% in the fourth quarter. BlackRock Inc. now owns 279,741,946 shares of the company’s stock worth $16,563,519,000 after purchasing an additional 9,884,447 shares during the last quarter. Vanguard Group Inc. boosted its position in Coca-Cola by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 351,220,018 shares of the company’s stock valued at $21,775,641,000 after acquiring an additional 8,961,600 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in Coca-Cola by 10.7% during the 1st quarter. Wellington Management Group LLP now owns 80,654,038 shares of the company’s stock valued at $5,000,550,000 after acquiring an additional 7,800,237 shares in the last quarter. 68.93% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

KO stock opened at $59.40 on Thursday. The Coca-Cola Company has a fifty-two week low of $52.28 and a fifty-two week high of $67.20. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $256.88 billion, a P/E ratio of 26.88, a PEG ratio of 3.79 and a beta of 0.54. The company has a 50-day simple moving average of $62.64 and a 200 day simple moving average of $62.68.

Coca-Cola (NYSE:KOGet Rating) last released its earnings results on Tuesday, July 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $10.57 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. Sell-side analysts predict that The Coca-Cola Company will post 2.46 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Thursday, September 15th. Coca-Cola’s dividend payout ratio is 79.64%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 32,000 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the sale, the chief executive officer now directly owns 351,737 shares of the company’s stock, valued at $22,542,824.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Henrique Braun sold 11,318 shares of Coca-Cola stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $64.35, for a total value of $728,313.30. Following the completion of the sale, the insider now owns 22,828 shares of the company’s stock, valued at approximately $1,468,981.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 value of $2,050,880.00. Following the completion of the sale, the chief executive officer now directly owns 351,737 shares of the company’s stock, valued at approximately $22,542,824.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,830 shares of company stock worth $2,939,961. 0.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KO has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. HSBC increased their price objective on shares of Coca-Cola from $72.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Morgan Stanley decreased their target price on shares of Coca-Cola from $76.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. Royal Bank of Canada set a $69.00 price objective on shares of Coca-Cola in a research report on Tuesday, July 26th. Finally, Credit Suisse Group set a $68.00 target price on shares of Coca-Cola in a research report on Wednesday, July 20th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.59.

Coca-Cola Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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