The Coca-Cola Company (NYSE:KO) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 6.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,408 shares of the company’s stock after purchasing an additional 4,059 shares during the quarter. Ritholtz Wealth Management’s holdings in Coca-Cola were worth $4,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Coca-Cola during the fourth quarter worth $2,808,056,000. Price T Rowe Associates Inc. MD grew its holdings in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Coca-Cola by 11,127.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after purchasing an additional 4,928,441 shares in the last quarter. Pathstone Holdings LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $193,342,000. Finally, Putnam Investments LLC grew its holdings in Coca-Cola by 32.8% during the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after purchasing an additional 2,973,234 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,074,910 shares of company stock valued at $585,972,318. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Barclays boosted their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, BNP Paribas started coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.73.

Coca-Cola Price Performance

Shares of KO traded up $0.42 during mid-day trading on Friday, hitting $72.47. The company’s stock had a trading volume of 18,624,227 shares, compared to its average volume of 13,806,061. The stock has a market capitalization of $312.34 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 4.05 and a beta of 0.59. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $72.57. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a 50-day moving average price of $66.66 and a 200 day moving average price of $63.13.

Coca-Cola (NYSE:KO) last released 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. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same quarter last year, the company posted $0.78 EPS. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.68%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Coca-Cola Company 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.