The Coca-Cola Co (KO) Holdings Increased by Adviser Investments LLC
Adviser Investments LLC grew its holdings in shares of The Coca-Cola Co (NYSE:KO) by 125.2% in the second quarter, Holdings Channel reports. The institutional investor owned 5,935 shares of the company’s stock after purchasing an additional 3,300 shares during the period. Adviser Investments LLC’s holdings in The Coca-Cola were worth $260,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Carillon Tower Advisers Inc. acquired a new stake in shares of The Coca-Cola during the 4th quarter worth about $19,247,000. Cornerstone Capital Inc. lifted its stake in shares of The Coca-Cola by 65.0% during the 4th quarter. Cornerstone Capital Inc. now owns 11,165 shares of the company’s stock worth $512,000 after buying an additional 4,400 shares during the last quarter. LVW Advisors LLC lifted its stake in shares of The Coca-Cola by 9.0% during the 4th quarter. LVW Advisors LLC now owns 76,848 shares of the company’s stock worth $3,526,000 after buying an additional 6,357 shares during the last quarter. BancorpSouth Bank acquired a new stake in shares of The Coca-Cola during the 4th quarter worth about $3,696,000. Finally, HRT Financial LLC acquired a new stake in The Coca-Cola in the 4th quarter worth about $925,000. 65.64% of the stock is owned by institutional investors.
KO stock opened at $45.83 on Tuesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.06 and a current ratio of 1.15. The Coca-Cola Co has a 12 month low of $41.45 and a 12 month high of $48.62. The stock has a market capitalization of $196.57 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 2.84 and a beta of 0.79.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, September 13th. The Coca-Cola’s dividend payout ratio is currently 81.68%.
In other The Coca-Cola news, VP Kathy N. Waller sold 48,354 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total value of $2,246,043.30. Following the transaction, the vice president now directly owns 200,725 shares of the company’s stock, valued at approximately $9,323,676.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Murphy sold 56,000 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $46.48, for a total transaction of $2,602,880.00. Following the completion of the transaction, the insider now directly owns 140,869 shares in the company, valued at $6,547,591.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,822 shares of company stock worth $10,027,727. Insiders own 1.48% of the company’s stock.
KO has been the subject of several analyst reports. Royal Bank of Canada set a $56.00 price objective on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Goldman Sachs Group upgraded shares of The Coca-Cola from a “sell” rating to a “neutral” rating and set a $46.00 price objective for the company in a research note on Tuesday, April 17th. Zacks Investment Research cut shares of The Coca-Cola from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Jefferies Financial Group reiterated a “neutral” rating and issued a $44.00 price objective on shares of The Coca-Cola in a research note on Friday, May 25th. Finally, SunTrust Banks lifted their price objective on shares of The Coca-Cola to $55.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $49.75.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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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