The Coca-Cola Company (NYSE:KO) Shares Acquired by LRI Investments LLC

LRI Investments LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 18.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,575 shares of the company’s stock after purchasing an additional 6,775 shares during the quarter. Coca-Cola comprises about 0.3% of LRI Investments LLC’s holdings, making the stock its 29th largest holding. LRI Investments LLC’s holdings in Coca-Cola were worth $2,710,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Patrick M Sweeney & Associates Inc. acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $410,000. Beacon Pointe Advisors LLC increased its stake in Coca-Cola by 24.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after acquiring an additional 89,139 shares during the last quarter. Birchcreek Wealth Management LLC raised its position in Coca-Cola by 12.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after purchasing an additional 507 shares during the period. Smart Money Group LLC lifted its stake in shares of Coca-Cola by 21.6% in the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock valued at $291,000 after purchasing an additional 877 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Coca-Cola by 13.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 12,621 shares of the company’s stock worth $744,000 after purchasing an additional 1,495 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Lisa Chang sold 40,334 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $69.54, for a total value of $2,804,826.36. Following the sale, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,150,619.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Lisa Chang sold 40,334 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $69.54, for a total transaction of $2,804,826.36. Following the completion of the sale, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,150,619.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold 1,014,029 shares of company stock valued at $581,682,074 in the last 90 days. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

NYSE:KO traded up $0.46 during midday trading on Friday, reaching $69.79. The stock had a trading volume of 11,834,745 shares, compared to its average volume of 12,990,292. The stock has a market cap of $300.65 billion, a P/E ratio of 27.92, a P/E/G ratio of 3.80 and a beta of 0.59. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $70.13. The firm has a fifty day simple moving average of $65.74 and a two-hundred day simple moving average of $62.69. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. On average, equities analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Ratings Changes

KO has been the subject of several research analyst reports. Morgan Stanley raised their price target on Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Evercore ISI boosted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Argus upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.20.

Coca-Cola Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.