Old North State Trust LLC reduced its stake in shares of The Coca-Cola Co (NYSE:KO) by 3.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,330 shares of the company’s stock after selling 505 shares during the quarter. Old North State Trust LLC’s holdings in The Coca-Cola were worth $780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of KO. Vanguard Group Inc. grew its position in shares of The Coca-Cola by 1.4% in the second quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock valued at $15,698,312,000 after purchasing an additional 4,225,080 shares during the last quarter. Northern Trust Corp grew its position in shares of The Coca-Cola by 1.1% in the second quarter. Northern Trust Corp now owns 52,096,293 shares of the company’s stock valued at $2,652,743,000 after purchasing an additional 589,927 shares during the last quarter. Morgan Stanley grew its position in shares of The Coca-Cola by 15.0% in the second quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock valued at $2,126,574,000 after purchasing an additional 5,449,889 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of The Coca-Cola by 9,580.7% in the second quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock valued at $1,658,966,000 after purchasing an additional 32,243,310 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of The Coca-Cola by 20.9% in the second quarter. California Public Employees Retirement System now owns 23,023,556 shares of the company’s stock valued at $1,172,359,000 after purchasing an additional 3,984,190 shares during the last quarter. Institutional investors own 67.48% of the company’s stock.

In other news, insider Jennifer K. Mann sold 9,126 shares of The Coca-Cola stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $53.48, for a total value of $488,058.48. Following the completion of the transaction, the insider now directly owns 41,175 shares of the company’s stock, valued at approximately $2,202,039. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Francisco Crespo sold 130,637 shares of The Coca-Cola stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $55.15, for a total transaction of $7,204,630.55. Following the completion of the transaction, the senior vice president now directly owns 139,975 shares of the company’s stock, valued at $7,719,621.25. The disclosure for this sale can be found here. Insiders sold a total of 429,638 shares of company stock valued at $23,411,372 over the last ninety days. Company insiders own 1.33% of the company’s stock.

KO stock traded up $0.25 during mid-day trading on Wednesday, hitting $53.83. 7,161,353 shares of the company were exchanged, compared to its average volume of 13,416,772. The company has a market capitalization of $233.21 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 1.44. The Coca-Cola Co has a twelve month low of $44.25 and a twelve month high of $55.92. The firm has a fifty day simple moving average of $54.41 and a 200 day simple moving average of $51.14.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The company had revenue of $10 billion during the quarter, compared to analyst estimates of $9.86 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. As a group, sell-side analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Friday, September 13th. The Coca-Cola’s dividend payout ratio is currently 76.92%.

Several analysts have recently commented on KO shares. Morgan Stanley set a $60.00 price target on shares of The Coca-Cola and gave the company a “buy” rating in a research report on Tuesday, September 3rd. BMO Capital Markets raised their target price on shares of The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Credit Suisse Group raised their target price on shares of The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Bank of America restated a “buy” rating and set a $60.00 target price (up previously from $55.00) on shares of The Coca-Cola in a research report on Wednesday, July 24th. Finally, SunTrust Banks raised their target price on shares of The Coca-Cola to $60.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The Coca-Cola has an average rating of “Hold” and an average price target of $54.26.

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

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