The Coca-Cola Company (NYSE:KO) Shares Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. increased its holdings in The Coca-Cola Company (NYSE:KO) by 101.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,289 shares of the company’s stock after buying an additional 26,889 shares during the quarter. Bridges Investment Management Inc.’s holdings in Coca-Cola were worth $3,392,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Fisher Asset Management LLC grew its position in Coca-Cola by 11,127.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after buying an additional 4,928,441 shares in the last quarter. Pathstone Holdings LLC acquired a new position in Coca-Cola during the 4th quarter valued at about $193,342,000. Putnam Investments LLC raised its position in shares of Coca-Cola by 32.8% during the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after buying an additional 2,973,234 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Coca-Cola by 30.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after buying an additional 2,964,850 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Truist Financial upped their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Bank of America raised their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $71.07.

Insider Transactions at Coca-Cola

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 stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction on 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, 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 valued at $579,704,927 over the last quarter. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $70.63 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53. The company has a market cap of $304.27 billion, a PE ratio of 28.25, a PEG ratio of 3.93 and a beta of 0.60. The stock’s 50-day moving average price is $68.98 and its two-hundred day moving average price is $64.22.

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

Coca-Cola Announces Dividend

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

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.