Studio Investment Management LLC Purchases 191 Shares of The Coca-Cola Company (NYSE:KO)

Studio Investment Management LLC grew its position in The Coca-Cola Company (NYSE:KO) by 18.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,206 shares of the company’s stock after acquiring an additional 191 shares during the quarter. Studio Investment Management LLC’s holdings in Coca-Cola were worth $78,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KO. Norges Bank acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $2,808,056,000. Price T Rowe Associates Inc. MD boosted its stake in Coca-Cola by 21.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after buying an additional 8,733,326 shares in the last quarter. Fisher Asset Management LLC grew its position in Coca-Cola by 11,127.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after acquiring an additional 4,928,441 shares during the period. Pathstone Holdings LLC acquired a new position in Coca-Cola during the fourth quarter worth $193,342,000. Finally, Putnam Investments LLC lifted its holdings in shares of Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after acquiring an additional 2,973,234 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.7 %

Shares of NYSE KO opened at $71.06 on Thursday. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The firm has a market capitalization of $306.10 billion, a P/E ratio of 28.42, a P/E/G ratio of 3.94 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company’s 50 day simple moving average is $67.97 and its 200 day simple moving average is $63.78.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. On average, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.73%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analysts Set New Price Targets

KO has been the subject of several analyst reports. TD Cowen lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Citigroup boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Royal Bank of Canada boosted their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Argus raised their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.73.

Insider Buying and Selling

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold 1,055,606 shares of company stock valued at $584,747,672 in the last 90 days. 0.97% of the stock is owned by insiders.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.