Atalanta Sosnoff Capital LLC boosted its stake in Coca-Cola Co (The) (NYSE:KO) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 582,462 shares of the company’s stock after buying an additional 42,269 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Coca-Cola were worth $28,756,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of KO. BlackRock Inc. increased its position in Coca-Cola by 6.7% in the second quarter. BlackRock Inc. now owns 298,038,286 shares of the company’s stock worth $13,316,350,000 after buying an additional 18,701,930 shares during the period. Capital World Investors grew its stake in shares of Coca-Cola by 17.8% in the first quarter. Capital World Investors now owns 38,240,690 shares of the company’s stock worth $1,692,153,000 after purchasing an additional 5,792,057 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in shares of Coca-Cola in the first quarter worth $47,894,000. APG Asset Management N.V. grew its stake in shares of Coca-Cola by 39.7% in the first quarter. APG Asset Management N.V. now owns 12,591,482 shares of the company’s stock worth $557,173,000 after purchasing an additional 3,580,852 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Coca-Cola by 1.0% in the first quarter. State Street Corp now owns 183,307,489 shares of the company’s stock worth $8,185,610,000 after purchasing an additional 1,787,004 shares in the last quarter. 65.86% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Robert Edward Long sold 37,534 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $48.21, for a total value of $1,809,514.14. Following the completion of the sale, the senior vice president now directly owns 82,502 shares of the company’s stock, valued at approximately $3,977,421.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David B. Weinberg sold 400,000 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $48.42, for a total value of $19,368,000.00. Following the completion of the sale, the director now directly owns 355,214 shares of the company’s stock, valued at $17,199,461.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 836,439 shares of company stock valued at $40,380,407. Company insiders own 1.01% of the company’s stock.
Shares of NYSE KO opened at $50.03 on Friday. Coca-Cola Co has a 12 month low of $36.27 and a 12 month high of $60.13. The company has a market cap of $214.90 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 5.91 and a beta of 0.55. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 1.97. The business has a fifty day simple moving average of $49.97 and a 200-day simple moving average of $47.25.
Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.26 billion. Coca-Cola had a return on equity of 41.44% and a net margin of 26.77%. The business’s revenue for the quarter was down 28.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. As a group, sell-side analysts expect that Coca-Cola Co will post 1.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.28%. The ex-dividend date is Monday, November 30th. Coca-Cola’s dividend payout ratio is currently 77.73%.
Several research analysts have recently issued reports on KO shares. Morgan Stanley raised Coca-Cola from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $54.00 in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research cut Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price target for the company. in a research note on Tuesday, September 22nd. Finally, Bank of America reaffirmed a “buy” rating and set a $53.00 target price on shares of Coca-Cola in a research note on Friday, July 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Coca-Cola currently has an average rating of “Buy” and an average target price of $54.19.
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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