Wright Investors Service Inc. grew its position in shares of The Coca-Cola Co (NYSE:KO) by 28.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 27,465 shares of the company’s stock after buying an additional 6,108 shares during the quarter. Wright Investors Service Inc.’s holdings in The Coca-Cola were worth $1,398,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the business. Prime Capital Investment Advisors LLC acquired a new position in shares of The Coca-Cola during the first quarter worth approximately $28,000. Orrstown Financial Services Inc. lifted its position in shares of The Coca-Cola by 230.8% during the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after purchasing an additional 517 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new position in shares of The Coca-Cola during the first quarter worth approximately $35,000. Canton Hathaway LLC lifted its position in shares of The Coca-Cola by 83.5% during the second quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after purchasing an additional 430 shares in the last quarter. Finally, PRW Wealth Management LLC acquired a new position in shares of The Coca-Cola during the fourth quarter worth approximately $50,000. 66.69% of the stock is currently owned by hedge funds and other institutional investors.
NYSE KO traded up $0.87 during trading hours 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 stock has a fifty day moving average of $52.43. The Coca-Cola Co has a twelve month low of $44.25 and a twelve month high of $54.82. The firm has a market cap of $227.40 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 3.70 and a beta of 0.48. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 annualized dividend and a yield of 2.97%. The Coca-Cola’s dividend payout ratio (DPR) is presently 76.92%.
A number of brokerages have recently issued reports on KO. HSBC reiterated a “neutral” rating and set a $52.00 target price on shares of The Coca-Cola in a research report on Wednesday, July 24th. Bank of America reiterated a “buy” rating and set a $60.00 target price (up from $55.00) on shares of The Coca-Cola in a research report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of The Coca-Cola from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. SunTrust Banks increased their price objective on shares of The Coca-Cola to $60.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Finally, Atlantic Securities initiated coverage on shares of The Coca-Cola in a report on Monday, July 29th. They issued an “overweight” rating and a $62.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $54.10.
In other The Coca-Cola news, insider Francisco Crespo sold 125,948 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $50.00, for a total value of $6,297,400.00. Following the sale, the insider now directly owns 186,631 shares in the company, valued at $9,331,550. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James L. Dinkins sold 45,875 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $53.26, for a total transaction of $2,443,302.50. Following the completion of the sale, the insider now owns 95,101 shares in the company, valued at $5,065,079.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 318,761 shares of company stock worth $16,182,125. Company insiders own 1.33% of the company’s stock.
The Coca-Cola 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 plantbased 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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