Mutual Advisors LLC Has $2.05 Million Holdings in The Coca-Cola Company (NYSE:KO)

Mutual Advisors LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 3.9% in the second quarter, Holdings Channel reports. The firm owned 37,794 shares of the company’s stock after selling 1,553 shares during the quarter. Mutual Advisors LLC’s holdings in The Coca-Cola were worth $2,045,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KO. Arrowstreet Capital Limited Partnership raised its stake in The Coca-Cola by 536.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,465,534 shares of the company’s stock valued at $498,928,000 after purchasing an additional 7,977,794 shares in the last quarter. King Luther Capital Management Corp raised its stake in The Coca-Cola by 100,495.4% in the first quarter. King Luther Capital Management Corp now owns 4,225,008 shares of the company’s stock valued at $222,700,000 after purchasing an additional 4,220,808 shares in the last quarter. Vontobel Asset Management Inc. raised its stake in The Coca-Cola by 49.8% in the first quarter. Vontobel Asset Management Inc. now owns 11,872,856 shares of the company’s stock valued at $649,350,000 after purchasing an additional 3,945,728 shares in the last quarter. Amundi Asset Management US Inc. raised its stake in The Coca-Cola by 47.0% in the first quarter. Amundi Asset Management US Inc. now owns 11,195,967 shares of the company’s stock valued at $590,141,000 after purchasing an additional 3,578,349 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in The Coca-Cola in the first quarter valued at about $184,603,000. 66.67% of the stock is owned by institutional investors and hedge funds.

NYSE:KO opened at $53.89 on Friday. The stock has a market cap of $232.36 billion, a P/E ratio of 28.82, a price-to-earnings-growth ratio of 2.85 and a beta of 0.62. The company has a current ratio of 1.47, a quick ratio of 1.25 and a debt-to-equity ratio of 1.64. The stock’s 50-day moving average is $56.18 and its 200-day moving average is $54.72. The Coca-Cola Company has a 1-year low of $47.30 and a 1-year high of $57.56.

The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 20th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The Coca-Cola had a return on equity of 44.17% and a net margin of 22.19%. The business had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The firm’s revenue was up 40.3% on a year-over-year basis. As a group, equities analysts forecast that The Coca-Cola Company will post 2.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, September 14th. The Coca-Cola’s payout ratio is presently 86.15%.

In other The Coca-Cola news, COO Brian John Smith sold 10,000 shares of the stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $55.65, for a total transaction of $556,500.00. Following the transaction, the chief operating officer now directly owns 144,229 shares in the company, valued at approximately $8,026,343.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Nancy Quan sold 19,911 shares of the stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $56.50, for a total value of $1,124,971.50. Following the transaction, the senior vice president now owns 196,745 shares in the company, valued at $11,116,092.50. The disclosure for this sale can be found here. Insiders sold 68,188 shares of company stock worth $3,864,107 over the last quarter. 1.01% of the stock is currently owned by company insiders.

KO has been the subject of a number of analyst reports. Bank of America boosted their price target on The Coca-Cola from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 22nd. Morgan Stanley boosted their target price on The Coca-Cola from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, July 22nd. Wells Fargo & Company boosted their target price on The Coca-Cola from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, July 22nd. Royal Bank of Canada reissued a “buy” rating and set a $60.00 target price on shares of The Coca-Cola in a research note on Wednesday, June 23rd. Finally, Zacks Investment Research raised The Coca-Cola from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Tuesday, July 6th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, The Coca-Cola has an average rating of “Buy” and a consensus target price of $61.25.

About The Coca-Cola

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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

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