Epoch Investment Partners Inc. Sells 32,559 Shares of The Coca-Cola Company (NYSE:KO)

Epoch Investment Partners Inc. reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,052,289 shares of the company’s stock after selling 32,559 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Coca-Cola were worth $66,978,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC increased its holdings in Coca-Cola by 19,005.3% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 35,727 shares of the company’s stock worth $2,274,000 after purchasing an additional 35,540 shares during the period. ProShare Advisors LLC grew its position in shares of Coca-Cola by 2.2% during the 2nd quarter. ProShare Advisors LLC now owns 3,558,545 shares of the company’s stock worth $226,501,000 after buying an additional 75,186 shares in the last quarter. Kowal Investment Group LLC grew its position in shares of Coca-Cola by 1.8% during the 2nd quarter. Kowal Investment Group LLC now owns 16,703 shares of the company’s stock worth $1,063,000 after buying an additional 302 shares in the last quarter. Legacy Financial Advisors Inc. increased its stake in shares of Coca-Cola by 1.2% during the second quarter. Legacy Financial Advisors Inc. now owns 36,159 shares of the company’s stock valued at $2,302,000 after buying an additional 434 shares during the period. Finally, Summit Trail Advisors LLC raised its holdings in shares of Coca-Cola by 3.0% in the second quarter. Summit Trail Advisors LLC now owns 21,816 shares of the company’s stock valued at $1,399,000 after acquiring an additional 629 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola 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 sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, 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 value of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock valued at $579,704,927 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of several recent research reports. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Bank of America increased their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Finally, 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 report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.64 on Monday. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The company has a market cap of $308.62 billion, a PE ratio of 28.66, a P/E/G ratio of 3.93 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The business has a 50-day simple moving average of $69.13 and a two-hundred day simple moving average of $64.37.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion during 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 was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.78 EPS. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

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

About Coca-Cola

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.