Rosenbaum Jay D. Increases Holdings in The Coca-Cola Co (NYSE:KO)

Rosenbaum Jay D. grew its holdings in shares of The Coca-Cola Co (NYSE:KO) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,174 shares of the company’s stock after buying an additional 600 shares during the quarter. The Coca-Cola accounts for approximately 1.6% of Rosenbaum Jay D.’s holdings, making the stock its 29th biggest holding. Rosenbaum Jay D.’s holdings in The Coca-Cola were worth $823,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prime Capital Investment Advisors LLC purchased a new stake in The Coca-Cola in the 1st quarter worth about $28,000. Orrstown Financial Services Inc. grew its stake in The Coca-Cola by 230.8% in the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after acquiring an additional 517 shares in the last quarter. Financial Gravity Wealth Inc. bought a new position in The Coca-Cola in the 1st quarter worth about $35,000. Canton Hathaway LLC grew its stake in The Coca-Cola by 83.5% in the 2nd quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after acquiring an additional 430 shares in the last quarter. Finally, PRW Wealth Management LLC bought a new position in The Coca-Cola in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 66.69% of the company’s stock.

In related news, insider Jennifer K. Mann sold 9,126 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $53.48, for a total transaction of $488,058.48. Following the completion of the sale, the insider now owns 41,175 shares of the company’s stock, valued at $2,202,039. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James L. Dinkins sold 45,875 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.26, for a total transaction of $2,443,302.50. Following the sale, the insider now directly owns 95,101 shares of the company’s stock, valued at approximately $5,065,079.26. The disclosure for this sale can be found here. Insiders have sold 318,761 shares of company stock valued at $16,182,125 in the last three months. 1.33% of the stock is currently owned by corporate insiders.

Shares of NYSE KO traded up $0.89 during midday trading on Thursday, reaching $53.88. 4,799,382 shares of the company’s stock traded hands, compared to its average volume of 14,180,490. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83. The stock’s 50 day moving average is $52.43. The Coca-Cola Co has a one year low of $44.25 and a one year high of $54.82. The stock has a market cap of $227.40 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 3.70 and a beta of 0.48.

The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $9.86 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The Coca-Cola’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts predict that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.97%. The Coca-Cola’s payout ratio is 76.92%.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, June 4th. Royal Bank of Canada reiterated a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. Morgan Stanley reiterated a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 31st. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, Bank of America reiterated a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of The Coca-Cola in a research note on Wednesday, July 24th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The Coca-Cola currently has an average rating of “Buy” and an average price target of $54.10.

The Coca-Cola Company 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 plant–based 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.

See Also: Treasury Bonds

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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