Bank of New York Mellon Corp Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

Bank of New York Mellon Corp decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 2.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,425,469 shares of the company’s stock after selling 1,049,385 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.89% of The Coca-Cola worth $2,079,201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OLD Mission Capital LLC bought a new stake in The Coca-Cola in the 3rd quarter valued at $244,000. IndexIQ Advisors LLC increased its holdings in shares of The Coca-Cola by 14.5% in the 1st quarter. IndexIQ Advisors LLC now owns 61,875 shares of the company’s stock worth $3,261,000 after buying an additional 7,816 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of The Coca-Cola by 37.6% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 50,166 shares of the company’s stock worth $2,644,000 after buying an additional 13,719 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of The Coca-Cola by 19.2% in the 1st quarter. D.A. Davidson & CO. now owns 249,186 shares of the company’s stock worth $13,135,000 after buying an additional 40,188 shares during the last quarter. Finally, Eagle Global Advisors LLC increased its holdings in shares of The Coca-Cola by 3.5% in the 1st quarter. Eagle Global Advisors LLC now owns 29,729 shares of the company’s stock worth $1,567,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 66.67% of the company’s stock.

In other news, SVP Nancy Quan sold 19,911 shares of the stock in a transaction on Friday, July 16th. The shares were sold at an average price of $56.50, for a total value of $1,124,971.50. Following the sale, the senior vice president now owns 196,745 shares in the company, valued at $11,116,092.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian John Smith sold 10,000 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $55.65, for a total transaction of $556,500.00. Following the completion of the sale, the chief operating officer now owns 144,229 shares in the company, valued at approximately $8,026,343.85. The disclosure for this sale can be found here. Insiders have sold a total of 68,188 shares of company stock worth $3,864,107 in the last 90 days. 1.01% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on KO. Credit Suisse Group boosted their target price on shares of The Coca-Cola from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, July 22nd. Royal Bank of Canada reiterated a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, June 23rd. Citigroup upped their price target on shares of The Coca-Cola from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of The Coca-Cola from $56.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, July 22nd. Finally, Argus upped their price target on shares of The Coca-Cola from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, June 17th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, The Coca-Cola has an average rating of “Buy” and a consensus price target of $61.25.

NYSE:KO traded up $0.11 during midday trading on Tuesday, reaching $54.17. 249,599 shares of the stock traded hands, compared to its average volume of 15,714,781. The Coca-Cola Company has a 12-month low of $47.30 and a 12-month high of $57.56. The business has a 50-day moving average of $56.34 and a two-hundred day moving average of $54.69. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.25 and a current ratio of 1.47. The stock has a market capitalization of $233.56 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 2.85 and a beta of 0.62.

The Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 20th. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.12. The Coca-Cola had a net margin of 22.19% and a return on equity of 44.17%. The company had revenue of $10.10 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. The Coca-Cola’s revenue for the quarter was up 40.3% compared to the same quarter last year. Research analysts anticipate that The Coca-Cola Company will post 2.25 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, September 14th. This represents a $1.68 dividend on an annualized basis and a yield of 3.10%. The Coca-Cola’s payout ratio is 86.15%.

The Coca-Cola Profile

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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

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