Vivaldi Capital Management LLC increased its position in Coca-Cola Co (The) (NYSE:KO) by 46.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,142 shares of the company’s stock after purchasing an additional 3,863 shares during the period. Vivaldi Capital Management LLC’s holdings in Coca-Cola were worth $588,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in KO. AlphaMark Advisors LLC raised its stake in Coca-Cola by 22.2% in the second quarter. AlphaMark Advisors LLC now owns 1,205 shares of the company’s stock valued at $54,000 after purchasing an additional 219 shares in the last quarter. Grandfield & Dodd LLC raised its position in shares of Coca-Cola by 0.5% during the 2nd quarter. Grandfield & Dodd LLC now owns 44,525 shares of the company’s stock valued at $1,990,000 after buying an additional 223 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Coca-Cola by 16.4% during the 2nd quarter. Larson Financial Group LLC now owns 1,597 shares of the company’s stock worth $71,000 after acquiring an additional 225 shares during the last quarter. Martin Capital Partners LLC lifted its holdings in shares of Coca-Cola by 0.3% during the 2nd quarter. Martin Capital Partners LLC now owns 88,817 shares of the company’s stock worth $3,968,000 after acquiring an additional 229 shares during the last quarter. Finally, BKD Wealth Advisors LLC grew its position in Coca-Cola by 0.5% in the second quarter. BKD Wealth Advisors LLC now owns 48,996 shares of the company’s stock worth $2,189,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 65.86% of the company’s stock.
Coca-Cola stock traded down $0.71 during trading hours on Thursday, reaching $50.48. The stock had a trading volume of 22,270,980 shares, compared to its average volume of 18,042,836. The company has a fifty day simple moving average of $47.78 and a 200-day simple moving average of $47.78. Coca-Cola Co has a 52 week low of $36.27 and a 52 week high of $60.13. The stock has a market cap of $210.99 billion, a PE ratio of 23.78, a PEG ratio of 5.68 and a beta of 0.55. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.09 and a quick ratio of 0.96.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, September 14th. Coca-Cola’s dividend payout ratio is presently 77.73%.
KO has been the topic of a number of research reports. Bank of America restated a “buy” rating and set a $53.00 price target on shares of Coca-Cola in a research report on Friday, July 17th. Zacks Investment Research cut Coca-Cola from a “hold” rating to a “sell” rating and set a $49.00 price objective on the stock. in a report on Wednesday, May 27th. Finally, Morgan Stanley raised Coca-Cola from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $52.00 to $54.00 in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Coca-Cola presently has an average rating of “Buy” and an average price target of $54.05.
In related news, Director David B. Weinberg sold 98,905 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $48.50, for a total transaction of $4,796,892.50. Following the completion of the transaction, the director now directly owns 355,214 shares in the company, valued at approximately $17,227,879. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David B. Weinberg sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $48.02, for a total transaction of $9,604,000.00. Following the completion of the transaction, the director now owns 355,214 shares of the company’s stock, valued at $17,057,376.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 836,439 shares of company stock worth $40,380,407. Insiders own 1.01% of the company’s stock.
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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