The Coca-Cola Co (NYSE:KO) Position Raised by Wright Investors Service Inc.

Wright Investors Service Inc. increased its position in shares of The Coca-Cola Co (NYSE:KO) by 28.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,465 shares of the company’s stock after purchasing an additional 6,108 shares during the period. Wright Investors Service Inc.’s holdings in The Coca-Cola were worth $1,398,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Davy Asset Management Ltd purchased a new position in shares of The Coca-Cola during the 2nd quarter valued at $891,000. Curbstone Financial Management Corp grew its holdings in shares of The Coca-Cola by 6.0% during the 2nd quarter. Curbstone Financial Management Corp now owns 20,550 shares of the company’s stock valued at $1,046,000 after acquiring an additional 1,170 shares in the last quarter. Marathon Capital Management grew its holdings in shares of The Coca-Cola by 7.0% during the 2nd quarter. Marathon Capital Management now owns 10,851 shares of the company’s stock valued at $552,000 after acquiring an additional 712 shares in the last quarter. Armbruster Capital Management Inc. grew its holdings in shares of The Coca-Cola by 1.9% during the 1st quarter. Armbruster Capital Management Inc. now owns 13,602 shares of the company’s stock valued at $637,000 after acquiring an additional 250 shares in the last quarter. Finally, Cypress Wealth Services LLC grew its holdings in shares of The Coca-Cola by 1.1% during the 1st quarter. Cypress Wealth Services LLC now owns 98,036 shares of the company’s stock valued at $4,594,000 after acquiring an additional 1,066 shares in the last quarter. 66.69% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the stock. Credit Suisse Group boosted their price target on shares of The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Bank of America restated a “buy” rating and set a $60.00 price target (up from $55.00) on shares of The Coca-Cola in a report on Wednesday, July 24th. UBS Group boosted their price target on shares of The Coca-Cola from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Royal Bank of Canada restated a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, July 24th. Finally, Deutsche Bank boosted their price target on shares of The Coca-Cola from $59.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $54.10.

Shares of KO stock traded up $0.87 on Thursday, hitting $53.86. The company’s stock had a trading volume of 595,771 shares, compared to its average volume of 14,180,490. 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 Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $54.82. The firm’s fifty day moving average price is $52.43. The firm has a market cap of $227.40 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.70 and a beta of 0.48.

The Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $9.86 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The Coca-Cola’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.

The firm 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 dividend yield of 2.97%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s payout ratio is presently 76.92%.

In other The Coca-Cola news, insider Francisco Crespo sold 125,948 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $50.00, for a total transaction of $6,297,400.00. Following the completion of the transaction, the insider now owns 186,631 shares of the company’s stock, valued at approximately $9,331,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Beatriz R. Perez sold 14,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $53.40, for a total transaction of $747,600.00. Following the transaction, the senior vice president now directly owns 108,457 shares of the company’s stock, valued at approximately $5,791,603.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 318,761 shares of company stock valued at $16,182,125. 1.33% of the stock is owned by company insiders.

The Coca-Cola Company Profile

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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