Close Asset Management Ltd Increases Stake in The Coca-Cola Co (NYSE:KO)

Close Asset Management Ltd boosted its stake in The Coca-Cola Co (NYSE:KO) by 163.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,229 shares of the company’s stock after purchasing an additional 4,484 shares during the period. Close Asset Management Ltd’s holdings in The Coca-Cola were worth $368,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. FMR LLC raised its stake in shares of The Coca-Cola by 22.2% in the fourth quarter. FMR LLC now owns 61,139,629 shares of the company’s stock worth $2,894,961,000 after purchasing an additional 11,126,961 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of The Coca-Cola by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 46,561,672 shares of the company’s stock worth $2,200,726,000 after acquiring an additional 4,528,987 shares during the period. Norges Bank bought a new position in shares of The Coca-Cola in the fourth quarter worth about $1,717,527,000. Legal & General Group Plc boosted its stake in shares of The Coca-Cola by 7.0% in the fourth quarter. Legal & General Group Plc now owns 19,459,018 shares of the company’s stock worth $921,367,000 after acquiring an additional 1,271,906 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of The Coca-Cola by 4.2% in the first quarter. Clearbridge Investments LLC now owns 16,562,369 shares of the company’s stock worth $776,113,000 after acquiring an additional 660,240 shares during the period. 66.69% of the stock is currently owned by institutional investors and hedge funds.

KO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective 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. Credit Suisse Group increased their price target on The Coca-Cola from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Atlantic Securities started coverage on The Coca-Cola in a research report on Monday, July 29th. They set an “overweight” rating and a $62.00 price objective on the stock. HSBC restated a “neutral” rating and set a $52.00 price objective on shares of The Coca-Cola in a research report on Wednesday, July 24th. Finally, Zacks Investment Research upgraded The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Tuesday, June 4th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The Coca-Cola presently has a consensus rating of “Buy” and an average target price of $54.10.

In related news, insider Francisco Crespo sold 125,948 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $6,297,400.00. Following the completion of the transaction, the insider now owns 186,631 shares in the company, valued at approximately $9,331,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Murphy sold 84,400 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $49.99, for a total value of $4,219,156.00. Following the completion of the transaction, the vice president now owns 133,715 shares of the company’s stock, valued at approximately $6,684,412.85. The disclosure for this sale can be found here. Insiders sold a total of 332,855 shares of company stock valued at $16,879,778 in the last three months. Insiders own 1.33% of the company’s stock.

Shares of NYSE KO opened at $53.50 on Wednesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83. The business has a 50 day simple moving average of $52.39. The Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $54.82. The stock has a market capitalization of $228.43 billion, a P/E ratio of 25.72, a price-to-earnings-growth ratio of 3.71 and a beta of 0.48.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $9.86 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts expect that The Coca-Cola Co will post 2.1 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.99%. The Coca-Cola’s payout ratio is 76.92%.

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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