Intech Investment Management LLC Has $39.21 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Intech Investment Management LLC trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 26.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 615,951 shares of the company’s stock after selling 216,902 shares during the quarter. Coca-Cola comprises about 0.5% of Intech Investment Management LLC’s portfolio, making the stock its 29th biggest holding. Intech Investment Management LLC’s holdings in Coca-Cola were worth $39,205,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of KO. Tidemark LLC bought a new position in Coca-Cola in the fourth quarter worth approximately $26,000. New Millennium Group LLC bought a new stake in Coca-Cola during the second quarter valued at $26,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola during the first quarter valued at about $28,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola in the first quarter worth about $28,000. Finally, Frazier Financial Advisors LLC purchased a new position in Coca-Cola during the 4th quarter valued at about $31,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KO. Deutsche Bank Aktiengesellschaft boosted their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Citigroup boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Truist Financial boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Barclays upped their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Stock Performance

Coca-Cola stock opened at $70.63 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The stock has a market cap of $304.27 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The firm has a 50 day simple moving average of $68.98 and a 200-day simple moving average of $64.22. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. On average, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.75%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insiders Place Their Bets

In related news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 over the last ninety days. 0.97% of the stock is owned by company insiders.

Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.