Gateway Investment Advisers LLC Boosts Holdings in The Coca-Cola Company (NYSE:KO)

Gateway Investment Advisers LLC boosted its position in shares of The Coca-Cola Company (NYSE:KOGet Rating) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 304,918 shares of the company’s stock after buying an additional 6,749 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Coca-Cola were worth $19,182,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of KO. Norges Bank purchased a new stake in shares of Coca-Cola during the fourth quarter valued at $2,222,027,000. GQG Partners LLC boosted its stake in shares of Coca-Cola by 5,862.0% during the first quarter. GQG Partners LLC now owns 12,930,640 shares of the company’s stock valued at $801,538,000 after purchasing an additional 12,713,757 shares during the period. BlackRock Inc. boosted its stake in shares of Coca-Cola by 3.7% during the fourth quarter. BlackRock Inc. now owns 279,741,946 shares of the company’s stock valued at $16,563,519,000 after purchasing an additional 9,884,447 shares during the period. Vanguard Group Inc. boosted its stake in shares of Coca-Cola by 2.6% during the first quarter. Vanguard Group Inc. now owns 351,220,018 shares of the company’s stock valued at $21,775,641,000 after purchasing an additional 8,961,600 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Coca-Cola by 10.7% during the first quarter. Wellington Management Group LLP now owns 80,654,038 shares of the company’s stock valued at $5,000,550,000 after purchasing an additional 7,800,237 shares during the period. 68.93% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

KO opened at $59.40 on Thursday. The Coca-Cola Company has a 52-week low of $52.28 and a 52-week high of $67.20. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.48. The company has a market cap of $256.88 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 3.79 and a beta of 0.54. The firm’s 50-day moving average price is $62.64 and its 200-day moving average price is $62.68.

Coca-Cola (NYSE:KOGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. Coca-Cola had a net margin of 23.16% and a return on equity of 42.13%. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.46 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.96%. Coca-Cola’s dividend payout ratio (DPR) is currently 79.64%.

Insider Activity

In related news, VP Kathy Loveless sold 2,512 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,768.00. Following the transaction, the vice president now owns 1,370 shares in the company, valued at approximately $87,680. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Kathy Loveless sold 2,512 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,768.00. Following the transaction, the vice president now owns 1,370 shares in the company, valued at approximately $87,680. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Carolyn Everson purchased 983 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The stock was acquired at an average price of $62.29 per share, for a total transaction of $61,231.07. Following the acquisition, the director now owns 1,500 shares in the company, valued at approximately $93,435. The disclosure for this purchase can be found here. Insiders have sold a total of 45,830 shares of company stock worth $2,939,961 over the last 90 days. 0.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Credit Suisse Group set a $68.00 target price on shares of Coca-Cola in a research note on Wednesday, July 20th. Morgan Stanley lowered their price objective on shares of Coca-Cola from $76.00 to $74.00 and set an “overweight” rating for the company in a research note on Wednesday, July 27th. Royal Bank of Canada set a $69.00 price objective on shares of Coca-Cola in a research note on Tuesday, July 26th. StockNews.com raised shares of Coca-Cola from a “hold” rating to a “buy” rating in a research note on Saturday, August 6th. Finally, HSBC upped their price objective on shares of Coca-Cola from $72.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $69.59.

Coca-Cola Company Profile

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The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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