DC Investments Management LLC Boosts Stake in Coca-Cola Co (The) (NYSE:KO)

DC Investments Management LLC lifted its position in shares of Coca-Cola Co (The) (NYSE:KO) by 121.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,254 shares of the company’s stock after acquiring an additional 6,164 shares during the quarter. DC Investments Management LLC’s holdings in Coca-Cola were worth $503,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. raised its holdings in Coca-Cola by 26.9% in the 4th quarter. Macquarie Group Ltd. now owns 97,305 shares of the company’s stock valued at $5,385,000 after acquiring an additional 20,620 shares during the last quarter. Spirit of America Management Corp NY increased its holdings in Coca-Cola by 9.2% in the 1st quarter. Spirit of America Management Corp NY now owns 11,900 shares of the company’s stock valued at $527,000 after purchasing an additional 1,000 shares during the last quarter. Hotaling Investment Management LLC increased its holdings in Coca-Cola by 3.0% in the 1st quarter. Hotaling Investment Management LLC now owns 16,268 shares of the company’s stock valued at $720,000 after purchasing an additional 480 shares during the last quarter. Cypress Capital Group increased its holdings in Coca-Cola by 8.7% in the 1st quarter. Cypress Capital Group now owns 57,893 shares of the company’s stock valued at $2,562,000 after purchasing an additional 4,616 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its holdings in Coca-Cola by 3.9% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 18,382 shares of the company’s stock valued at $813,000 after purchasing an additional 688 shares during the last quarter. 67.40% of the stock is currently owned by institutional investors and hedge funds.

In other Coca-Cola news, Director David B. Weinberg sold 98,905 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $48.50, for a total value of $4,796,892.50. Following the sale, the director now owns 355,214 shares of the company’s stock, valued at $17,227,879. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David B. Weinberg sold 400,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $48.42, for a total transaction of $19,368,000.00. Following the transaction, the director now directly owns 355,214 shares in the company, valued at approximately $17,199,461.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 698,905 shares of company stock worth $33,768,893. 1.01% of the stock is owned by insiders.

Shares of Coca-Cola stock traded up $0.26 on Thursday, reaching $47.48. 10,732,466 shares of the stock were exchanged, compared to its average volume of 18,669,469. Coca-Cola Co has a 1-year low of $36.27 and a 1-year high of $60.13. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 1.97. The business has a fifty day moving average price of $46.10 and a two-hundred day moving average price of $49.11. The firm has a market capitalization of $202.87 billion, a PE ratio of 22.39, a PEG ratio of 5.40 and a beta of 0.55.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.26 billion. During the same period in the previous year, the business posted $0.63 earnings per share. The business’s revenue was down 28.0% compared to the same quarter last year. Research analysts expect that Coca-Cola Co will post 1.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Monday, September 14th. Coca-Cola’s dividend payout ratio is currently 77.73%.

Several equities analysts have commented on KO shares. Zacks Investment Research cut shares of Coca-Cola from a “hold” rating to a “sell” rating and set a $49.00 price target for the company. in a research report on Wednesday, May 27th. Royal Bank of Canada decreased their price target on shares of Coca-Cola from $57.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Bank of America reissued a “buy” rating and issued a $53.00 price target on shares of Coca-Cola in a research report on Friday, July 17th. Morgan Stanley raised shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $52.00 to $54.00 in a research report on Wednesday, July 22nd. They noted that the move was a valuation call. Finally, Cfra decreased their price target on shares of Coca-Cola from $60.00 to $55.00 and set a “strong-buy” rating for the company in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $54.05.

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.

See Also: Net Income

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

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