Interval Partners LP Takes Position in The Coca-Cola Company (NYSE:KO)

Interval Partners LP purchased a new position in shares of The Coca-Cola Company (NYSE:KO) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 385,015 shares of the company’s stock, valued at approximately $24,506,000.

A number of other hedge funds have also recently added to or reduced their stakes in KO. Focus Financial Network Inc. ADV acquired a new position in shares of Coca-Cola during the fourth quarter valued at $3,255,000. Swedbank AB bought a new stake in shares of Coca-Cola during the first quarter worth approximately $102,604,000. Angeles Investment Advisors LLC lifted its holdings in Coca-Cola by 2.4% in the fourth quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock valued at $932,000 after buying an additional 374 shares during the period. Wealth Quarterback LLC boosted its position in shares of Coca-Cola by 3.2% in the 4th quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock worth $1,029,000 after purchasing an additional 537 shares during the last quarter. Finally, BDF Gestion bought a new position in Coca-Cola during the second quarter worth about $7,421,000. Institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,507,516.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 974,715 shares of company stock valued at $579,704,927. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Trading Up 1.4 %

Coca-Cola stock opened at $71.64 on Monday. The stock has a 50-day simple moving average of $69.13 and a 200 day simple moving average of $64.37. The stock has a market capitalization of $308.62 billion, a P/E ratio of 28.66, a PEG 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 Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last issued its 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. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the previous year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid 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 is presently 77.60%.

Coca-Cola Company 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.