Golub Group LLC Raises Position in The Coca-Cola Co (NYSE:KO)

Golub Group LLC raised its stake in shares of The Coca-Cola Co (NYSE:KO) by 2.5% during the third quarter, HoldingsChannel reports. The firm owned 8,341 shares of the company’s stock after buying an additional 200 shares during the quarter. Golub Group LLC’s holdings in The Coca-Cola were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KO. Nuveen Asset Management LLC raised its position in The Coca-Cola by 9,580.7% during the second quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock valued at $1,658,966,000 after purchasing an additional 32,243,310 shares during the period. Morgan Stanley raised its holdings in shares of The Coca-Cola by 15.0% in the second quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock worth $2,126,574,000 after buying an additional 5,449,889 shares during the period. Vanguard Group Inc. raised its holdings in shares of The Coca-Cola by 1.4% in the second quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock worth $15,698,312,000 after buying an additional 4,225,080 shares during the period. California Public Employees Retirement System raised its holdings in shares of The Coca-Cola by 20.9% in the second quarter. California Public Employees Retirement System now owns 23,023,556 shares of the company’s stock worth $1,172,359,000 after buying an additional 3,984,190 shares during the period. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of The Coca-Cola by 5,235.0% in the second quarter. Thoroughbred Financial Services LLC now owns 1,696,625 shares of the company’s stock worth $169,662,000 after buying an additional 1,664,823 shares during the period. Institutional investors and hedge funds own 67.32% of the company’s stock.

NYSE:KO traded down $0.08 during midday trading on Friday, hitting $52.21. The stock had a trading volume of 6,997,608 shares, compared to its average volume of 13,198,850. The Coca-Cola Co has a one year low of $44.42 and a one year high of $55.92. The company has a market capitalization of $224.59 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 3.65 and a beta of 0.46. The stock has a 50-day moving average of $53.85 and a 200 day moving average of $52.23. The company has a quick ratio of 0.79, a current ratio of 0.92 and a debt-to-equity ratio of 1.50.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Friday, October 18th. The company reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. The Coca-Cola had a return on equity of 45.21% and a net margin of 22.41%. The company had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.42 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The Coca-Cola’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 3.06%. The Coca-Cola’s dividend payout ratio (DPR) is currently 76.92%.

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, July 24th. Credit Suisse Group increased their price target on The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Atlantic Securities assumed coverage on The Coca-Cola in a report on Monday, July 29th. They issued an “overweight” rating and a $62.00 price target on the stock. ValuEngine downgraded The Coca-Cola from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, BMO Capital Markets increased their price target on The Coca-Cola from $52.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The Coca-Cola currently has an average rating of “Buy” and an average target price of $55.95.

In other The Coca-Cola news, COO Brian John Smith sold 60,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $54.87, for a total transaction of $3,292,200.00. Following the sale, the chief operating officer now owns 174,302 shares of the company’s stock, valued at approximately $9,563,950.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Lisa Chang bought 500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $53.24 per share, for a total transaction of $26,620.00. Following the transaction, the senior vice president now directly owns 5,448 shares in the company, valued at approximately $290,051.52. The disclosure for this purchase can be found here. In the last three months, insiders sold 403,026 shares of company stock worth $22,037,406. 1.33% of the stock is owned by insiders.

The Coca-Cola 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.

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

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