Aldebaran Financial Inc. Has $614,000 Stake in The Coca-Cola Company (NYSE:KO)

Aldebaran Financial Inc. increased its stake in The Coca-Cola Company (NYSE:KO) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,646 shares of the company’s stock after purchasing an additional 439 shares during the period. Aldebaran Financial Inc.’s holdings in Coca-Cola were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew 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 worth $3,016,023,000 after buying an additional 8,733,326 shares in the last quarter. Legal & General Group Plc boosted its position in Coca-Cola by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 38,701,876 shares of the company’s stock worth $2,463,373,000 after acquiring an additional 1,084,475 shares during the last quarter. Truist Financial Corp grew its stake in shares of Coca-Cola by 1.1% during the 2nd quarter. Truist Financial Corp now owns 16,362,598 shares of the company’s stock worth $1,041,479,000 after acquiring an additional 177,241 shares in the last quarter. Vontobel Asset Management Inc. raised its holdings in shares of Coca-Cola by 2.7% in the fourth quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock valued at $890,866,000 after purchasing an additional 378,447 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Coca-Cola by 30.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after purchasing an additional 2,964,850 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday. Morgan Stanley lifted their target price on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. TD Cowen increased their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Stock Performance

Shares of KO stock opened at $71.86 on Tuesday. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The company has a market capitalization of $309.57 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 3.97 and a beta of 0.60. The company has a 50-day simple moving average of $69.96 and a 200 day simple moving average of $64.85. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

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

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 directly owns 223,330 shares in the company, valued at $15,968,095. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 approximately $1,742,280,050. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is currently owned by corporate insiders.

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.