The Coca-Cola Co (NYSE:KO) Shares Bought by Highland Capital Management LLC

Highland Capital Management LLC boosted its position in shares of The Coca-Cola Co (NYSE:KO) by 58.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,887 shares of the company’s stock after buying an additional 37,779 shares during the quarter. Highland Capital Management LLC’s holdings in The Coca-Cola were worth $5,547,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in The Coca-Cola by 1.4% during the second quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock worth $15,698,312,000 after acquiring an additional 4,225,080 shares during the last quarter. State Street Corp boosted its position in The Coca-Cola by 1.3% during the third quarter. State Street Corp now owns 181,621,433 shares of the company’s stock worth $9,959,624,000 after acquiring an additional 2,412,293 shares during the last quarter. Northern Trust Corp boosted its position in The Coca-Cola by 1.1% during the second quarter. Northern Trust Corp now owns 52,096,293 shares of the company’s stock worth $2,652,743,000 after acquiring an additional 589,927 shares during the last quarter. Morgan Stanley boosted its position in The Coca-Cola by 15.0% during the second quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock worth $2,126,574,000 after acquiring an additional 5,449,889 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted 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 worth $1,658,966,000 after acquiring an additional 32,243,310 shares during the last quarter. Institutional investors own 67.55% of the company’s stock.

Shares of The Coca-Cola stock traded up $0.49 on Wednesday, reaching $54.29. The company had a trading volume of 13,623,686 shares, compared to its average volume of 13,052,377. The firm’s 50 day moving average price is $53.40 and its two-hundred day moving average price is $52.83. The firm has a market cap of $228.79 billion, a PE ratio of 26.10, a PEG ratio of 3.72 and a beta of 0.43. The Coca-Cola Co has a 52-week low of $44.42 and a 52-week high of $55.92. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.79 and a current ratio of 0.92.

The Coca-Cola (NYSE:KO) last released its quarterly earnings results on Friday, October 18th. The company reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.42 billion. The Coca-Cola had a net margin of 22.41% and a return on equity of 45.21%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. As a group, sell-side analysts predict that The Coca-Cola Co will post 2.1 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, November 29th. The Coca-Cola’s payout ratio is currently 76.92%.

In related news, SVP James L. Dinkins sold 18,389 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $55.00, for a total transaction of $1,011,395.00. Following the sale, the senior vice president now directly owns 69,344 shares of the company’s stock, valued at approximately $3,813,920. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brian John Smith sold 60,000 shares of the company’s stock in a transaction that occurred 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 directly owns 174,302 shares in the company, valued at $9,563,950.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 233,026 shares of company stock worth $12,801,826. 1.33% of the stock is owned by insiders.

A number of equities analysts recently weighed in on KO shares. ValuEngine lowered shares of The Coca-Cola from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BMO Capital Markets boosted their price target on shares of The Coca-Cola from $52.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Guggenheim set a $59.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a research report on Friday, October 18th. UBS Group raised shares of The Coca-Cola from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $63.00 in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Co set a $60.00 target price on shares of The Coca-Cola and gave the stock a “buy” rating in a research note on Monday, October 21st. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $56.15.

About The Coca-Cola

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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