Rice Partnership LLC Buys New Holdings in The Coca-Cola Co (NYSE:KO)

Rice Partnership LLC bought a new stake in The Coca-Cola Co (NYSE:KO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,026 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC acquired a new position in The Coca-Cola in the first quarter valued at approximately $28,000. Orrstown Financial Services Inc. lifted its holdings in The Coca-Cola by 230.8% in the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock valued at $35,000 after acquiring an additional 517 shares during the period. Financial Gravity Wealth Inc. acquired a new position in The Coca-Cola in the first quarter valued at approximately $35,000. Canton Hathaway LLC lifted its holdings in The Coca-Cola by 83.5% in the second quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock valued at $48,000 after acquiring an additional 430 shares during the period. Finally, PRW Wealth Management LLC acquired a new position in The Coca-Cola in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 66.64% of the company’s stock.

In related news, VP Bernhard Goepelt sold 13,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $48.96, for a total value of $636,480.00. Following the completion of the transaction, the vice president now directly owns 151,504 shares of the company’s stock, valued at approximately $7,417,635.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy Quan sold 23,320 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $47.95, for a total value of $1,118,194.00. Following the completion of the transaction, the senior vice president now directly owns 165,049 shares of the company’s stock, valued at $7,914,099.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 369,175 shares of company stock valued at $18,634,452. 1.33% of the stock is owned by corporate insiders.

NYSE KO traded up $0.22 during mid-day trading on Tuesday, hitting $51.87. The stock had a trading volume of 500,449 shares, compared to its average volume of 12,530,342. The stock’s 50 day moving average is $52.09. The Coca-Cola Co has a twelve month low of $44.25 and a twelve month high of $54.82. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.83 and a quick ratio of 0.71. The company has a market capitalization of $223.76 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 3.64 and a beta of 0.48.

The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. During the same period in the prior year, the company earned $0.61 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s dividend payout ratio is currently 76.92%.

A number of research analysts have issued reports on the company. Morgan Stanley reissued a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 24th. Deutsche Bank upped their target price on The Coca-Cola from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Credit Suisse Group upped their target price on The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The Coca-Cola currently has an average rating of “Hold” and a consensus price target of $53.86.

About The Coca-Cola

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

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