Newbridge Financial Services Group Inc. Buys 648 Shares of The Coca-Cola Company (NYSE:KO)

Newbridge Financial Services Group Inc. lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 7.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,608 shares of the company’s stock after purchasing an additional 648 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Coca-Cola were worth $612,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in Coca-Cola by 15.2% during the fourth quarter. Jones Financial Companies Lllp now owns 31,101 shares of the company’s stock worth $1,833,000 after buying an additional 4,107 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in Coca-Cola by 97.3% during the 4th quarter. CWA Asset Management Group LLC now owns 15,548 shares of the company’s stock valued at $916,000 after purchasing an additional 7,666 shares during the last quarter. Blueshift Asset Management LLC boosted its position in Coca-Cola by 41.8% during the fourth quarter. Blueshift Asset Management LLC now owns 9,055 shares of the company’s stock worth $534,000 after purchasing an additional 2,671 shares during the period. Optiver Holding B.V. bought a new position in shares of Coca-Cola in the fourth quarter valued at about $4,627,000. Finally, Capital Research Global Investors raised its position in shares of Coca-Cola by 4.3% in the fourth quarter. Capital Research Global Investors now owns 3,796,462 shares of the company’s stock valued at $223,726,000 after purchasing an additional 156,071 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. 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. Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $71.73 on Wednesday. The firm has a 50 day moving average of $70.10 and a 200-day moving average of $64.94. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $309.01 billion, a PE ratio of 28.69, a PEG ratio of 3.97 and a beta of 0.60.

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. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business 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 business earned $0.78 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.70%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Activity at Coca-Cola

In other news, insider Bruno Pietracci sold 38,653 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction 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 disclosure for this sale can be found here. In 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 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.