The Coca-Cola Company (NYSE:KO) Shares Acquired by Northcape Wealth Management LLC

Northcape Wealth Management LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,905 shares of the company’s stock after purchasing an additional 1,630 shares during the period. Northcape Wealth Management LLC’s holdings in Coca-Cola were worth $2,795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Coca-Cola during the 4th quarter worth $2,808,056,000. Price T Rowe Associates Inc. MD grew its position in shares of Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after buying an additional 8,733,326 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Coca-Cola by 11,138.6% during the fourth quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock worth $293,343,000 after buying an additional 4,933,527 shares during the period. Pathstone Holdings LLC acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $193,342,000. Finally, Putnam Investments LLC lifted its stake in Coca-Cola by 32.8% in the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after acquiring an additional 2,973,234 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Evercore ISI raised their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Barclays lifted their price target on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Truist Financial raised their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Coca-Cola Stock Performance

Shares of KO traded up $0.46 during mid-day trading on Friday, hitting $69.79. 11,834,745 shares of the company’s stock were exchanged, compared to its average volume of 12,990,292. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $70.13. The business’s 50 day moving average is $65.74 and its two-hundred day moving average is $62.71. The firm has a market capitalization 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.

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

Coca-Cola Dividend Announcement

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

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the stock in a transaction dated Wednesday, August 21st. The shares were 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 of the company’s stock, valued at $30,987,070.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 19,304 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,014,029 shares of company stock worth $581,682,074. Company insiders own 0.97% of the company’s stock.

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.