The Coca-Cola Company (NYSE:KO) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. lifted its position in The Coca-Cola Company (NYSE:KO) by 22.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,983 shares of the company’s stock after purchasing an additional 2,901 shares during the quarter. Benjamin Edwards Inc.’s holdings in Coca-Cola were worth $1,017,000 at the end of the most recent quarter.

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

Insider Transactions at Coca-Cola

In related 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 value of $553,722,575.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $14,507,516.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $553,722,575.00. Following the sale, 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. Over the last quarter, insiders have sold 974,715 shares of company stock worth $579,704,927. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. BNP Paribas assumed coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Citigroup lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley increased their target price on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. TD Cowen lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Truist Financial lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Price Performance

Shares of KO stock opened at $71.62 on Friday. The Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53. The firm has a market cap of $308.54 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 3.93 and a beta of 0.60. The stock’s fifty day simple moving average is $69.13 and its 200 day simple moving average is $64.31. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data 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. The company 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%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.78 earnings per share. On average, analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend 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.