Sei Investments Co. Purchases 50,473 Shares of The Coca-Cola Company (NYSE:KO)

Sei Investments Co. grew its position in The Coca-Cola Company (NYSE:KO) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,753,046 shares of the company’s stock after purchasing an additional 50,473 shares during the period. Sei Investments Co.’s holdings in Coca-Cola were worth $111,581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of KO. Skandinaviska Enskilda Banken AB publ lifted its stake in Coca-Cola by 1.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 822,104 shares of the company’s stock valued at $52,323,000 after acquiring an additional 8,100 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of Coca-Cola by 26.3% in the second quarter. AE Wealth Management LLC now owns 142,657 shares of the company’s stock worth $9,080,000 after purchasing an additional 29,732 shares in the last quarter. Bridges Investment Management Inc. boosted its holdings in Coca-Cola by 101.9% during the second quarter. Bridges Investment Management Inc. now owns 53,289 shares of the company’s stock worth $3,392,000 after purchasing an additional 26,889 shares during the last quarter. Benjamin Edwards Inc. grew its position in Coca-Cola by 22.2% in the second quarter. Benjamin Edwards Inc. now owns 15,983 shares of the company’s stock valued at $1,017,000 after purchasing an additional 2,901 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Coca-Cola by 4.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 74,303 shares of the company’s stock valued at $4,729,000 after buying an additional 3,264 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Truist Financial raised 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. JPMorgan Chase & Co. raised their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Bank of America upped their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Barclays raised their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada upped their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Trading Up 1.4 %

Shares of KO stock opened at $71.62 on Friday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The company has a market capitalization of $308.54 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The firm has a 50 day moving average price of $69.13 and a two-hundred day moving average price of $64.31. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.71%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The disclosure for this sale can be found here. Over the last three months, insiders have sold 974,715 shares of company stock valued at $579,704,927. 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.