LGT Group Foundation Increases Stock Position in The Coca-Cola Company (NYSE:KO)

LGT Group Foundation boosted its holdings in The Coca-Cola Company (NYSE:KO) by 103.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,197,081 shares of the company’s stock after purchasing an additional 608,889 shares during the quarter. Coca-Cola comprises 1.1% of LGT Group Foundation’s investment portfolio, making the stock its 20th largest holding. LGT Group Foundation’s holdings in Coca-Cola were worth $76,194,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Beacon Pointe Advisors LLC increased its stake in Coca-Cola by 24.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after buying an additional 89,139 shares during the period. Focus Financial Network Inc. ADV purchased a new position in shares of Coca-Cola in the 4th quarter valued at about $3,255,000. Kingsview Wealth Management LLC lifted its stake in shares of Coca-Cola by 17.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 139,368 shares of the company’s stock valued at $8,213,000 after purchasing an additional 21,030 shares during the period. Swedbank AB purchased a new stake in Coca-Cola during the first quarter worth about $102,604,000. Finally, Angeles Investment Advisors LLC grew its position 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 period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.9 %

NYSE KO traded up $0.62 during trading hours on Monday, hitting $71.76. 1,037,700 shares of the company’s stock were exchanged, compared to its average volume of 13,131,281. 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 firm has a market capitalization of $309.28 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 3.94 and a beta of 0.60. The business’s 50 day moving average is $67.48 and its 200-day moving average is $63.58. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53.

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

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,074,910 shares of company stock valued at $585,972,318. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on KO shares. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday. Morgan Stanley boosted their target price on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. TD Cowen raised their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Argus boosted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, BNP Paribas started coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $70.73.

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.