Brown Brothers Harriman & Co. Has $13.34 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Brown Brothers Harriman & Co. increased its position in The Coca-Cola Company (NYSE:KO) by 2.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 209,513 shares of the company’s stock after purchasing an additional 5,903 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Coca-Cola were worth $13,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Focus Financial Network Inc. ADV acquired a new position in shares of Coca-Cola during the fourth quarter worth approximately $3,255,000. Swedbank AB bought a new stake in Coca-Cola during the 1st quarter valued at $102,604,000. Angeles Investment Advisors LLC raised its holdings in Coca-Cola by 2.4% during the fourth quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock worth $932,000 after buying an additional 374 shares during the last quarter. Wealth Quarterback LLC lifted its stake in shares of Coca-Cola by 3.2% in the fourth quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock valued at $1,029,000 after buying an additional 537 shares in the last quarter. Finally, BDF Gestion acquired a new position in shares of Coca-Cola during the second quarter valued at about $7,421,000. 70.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on KO. Argus raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Barclays increased their target price 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. Bank of America raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, BNP Paribas initiated coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.73.

Insider Transactions at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 of the company’s stock, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders have sold 974,715 shares of company stock valued at $579,704,927 in the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.3 %

Shares of KO stock opened at $71.41 on Monday. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53. The business’s fifty day moving average is $68.28 and its 200 day moving average is $63.95. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company has a market capitalization of $307.63 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60.

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 the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter last year, the firm posted $0.78 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.72%. Coca-Cola’s dividend payout ratio is presently 77.60%.

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.