Pittenger & Anderson Inc. increased its stake in The Coca-Cola Company (NYSE:KO – Get Rating) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,505 shares of the company’s stock after buying an additional 330 shares during the period. Pittenger & Anderson Inc.’s holdings in Coca-Cola were worth $3,618,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Coca-Cola by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 351,220,018 shares of the company’s stock worth $21,775,641,000 after acquiring an additional 8,961,600 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Coca-Cola by 3.7% in the fourth quarter. BlackRock Inc. now owns 279,741,946 shares of the company’s stock valued at $16,563,519,000 after acquiring an additional 9,884,447 shares during the period. State Street Corp lifted its holdings in Coca-Cola by 0.8% in the first quarter. State Street Corp now owns 171,972,013 shares of the company’s stock valued at $10,737,003,000 after acquiring an additional 1,374,105 shares during the period. Wellington Management Group LLP increased its position in shares of Coca-Cola by 10.7% in 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 buying an additional 7,800,237 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Coca-Cola by 2.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 51,570,921 shares of the company’s stock worth $3,197,397,000 after buying an additional 1,301,902 shares during the last quarter. Hedge funds and other institutional investors own 68.93% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Royal Bank of Canada set a $69.00 price objective on Coca-Cola in a report on Tuesday, July 26th. JPMorgan Chase & Co. set a $70.00 target price on Coca-Cola in a research report on Tuesday, July 26th. Credit Suisse Group set a $68.00 price objective on Coca-Cola in a research report on Wednesday, July 20th. HSBC boosted their target price on Coca-Cola from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Finally, Morgan Stanley reduced their price objective on Coca-Cola from $76.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.59.
Coca-Cola Stock Down 0.2 %
Coca-Cola (NYSE:KO – Get Rating) last issued 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. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $10.57 billion. Coca-Cola had a return on equity of 42.13% and a net margin of 23.16%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. As a group, research analysts predict that The Coca-Cola Company will post 2.46 EPS for the current year.
Coca-Cola Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, September 15th. Coca-Cola’s payout ratio is 79.64%.
Insider Buying and Selling
In other news, Director Carolyn Everson purchased 983 shares of the company’s stock in a transaction dated Wednesday, July 27th. The stock was bought at an average cost of $62.29 per share, for a total transaction of $61,231.07. Following the purchase, the director now owns 1,500 shares of the company’s stock, valued at $93,435. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Carolyn Everson purchased 983 shares of the business’s stock in a transaction 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 purchase, the director now owns 1,500 shares of the company’s stock, valued at $93,435. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Henrique Braun sold 11,318 shares of Coca-Cola stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $64.35, for a total transaction of $728,313.30. Following the completion of the sale, the insider now directly owns 22,828 shares in the company, valued at approximately $1,468,981.80. The disclosure for this sale can be found here. Insiders have sold 45,830 shares of company stock valued at $2,939,961 over the last 90 days. 0.98% of the stock is owned by corporate insiders.
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.
- Get a free copy of the StockNews.com research report on Coca-Cola (KO)
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