The Coca-Cola Company (NYSE:KO) Shares Bought by Cypress Capital Group

Cypress Capital Group raised its stake in The Coca-Cola Company (NYSE:KO) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,468 shares of the company’s stock after buying an additional 3,037 shares during the period. Cypress Capital Group’s holdings in Coca-Cola were worth $3,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in Coca-Cola by 21.5% in 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. Norges Bank bought a new position in shares of Coca-Cola during the fourth quarter worth about $2,808,056,000. Dimensional Fund Advisors LP grew its holdings in Coca-Cola by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,171,216 shares of the company’s stock worth $894,028,000 after buying an additional 814,779 shares in the last quarter. Vontobel Asset Management Inc. lifted its holdings in Coca-Cola by 2.7% in the fourth quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock worth $890,866,000 after purchasing an additional 378,447 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Coca-Cola by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after purchasing an additional 2,964,850 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company upped 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. Bank of America boosted their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. UBS Group lifted their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Morgan Stanley upped their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $70.20.

Coca-Cola Stock Up 0.7 %

Shares of Coca-Cola stock traded up $0.46 during trading hours on Friday, reaching $69.79. The company’s stock had a trading volume of 11,834,745 shares, compared to its average volume of 12,990,292. 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 stock’s fifty day simple moving average is $65.74 and its two-hundred day simple moving average is $62.73. The company 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. The Coca-Cola Company has a one year low of $51.55 and a one year high of $70.13.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) 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 company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

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

Insider Activity at Coca-Cola

In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,014,029 shares of company stock worth $581,682,074. 0.97% of the stock is owned by corporate insiders.

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.