New England Asset Management Inc. raised its position in shares of The Coca-Cola Co (NYSE:KO) by 14.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,925 shares of the company’s stock after buying an additional 10,225 shares during the quarter. New England Asset Management Inc.’s holdings in The Coca-Cola were worth $3,462,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. BlackRock Inc. boosted its holdings in shares of The Coca-Cola by 1.9% in the 1st quarter. BlackRock Inc. now owns 246,505,322 shares of the company’s stock worth $10,705,725,000 after purchasing an additional 4,526,566 shares during the period. Morgan Stanley boosted its holdings in shares of The Coca-Cola by 3.6% in the 2nd quarter. Morgan Stanley now owns 38,959,393 shares of the company’s stock worth $1,708,760,000 after purchasing an additional 1,336,852 shares during the period. Suntrust Banks Inc. boosted its holdings in shares of The Coca-Cola by 1.3% in the 1st quarter. Suntrust Banks Inc. now owns 20,136,587 shares of the company’s stock worth $874,530,000 after purchasing an additional 265,918 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of The Coca-Cola by 1.9% in the 2nd quarter. Janus Henderson Group PLC now owns 15,923,120 shares of the company’s stock worth $698,396,000 after purchasing an additional 299,933 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of The Coca-Cola by 2.8% in the 2nd quarter. Swiss National Bank now owns 15,439,790 shares of the company’s stock worth $677,189,000 after purchasing an additional 425,900 shares during the period. Institutional investors and hedge funds own 65.41% of the company’s stock.
Shares of KO stock opened at $45.99 on Friday. The Coca-Cola Co has a 1-year low of $41.45 and a 1-year high of $48.62. The company has a current ratio of 1.15, a quick ratio of 1.06 and a debt-to-equity ratio of 1.39. The firm has a market cap of $197.26 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 2.85 and a beta of 0.74.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.56 annualized dividend and a yield of 3.39%. The Coca-Cola’s dividend payout ratio (DPR) is 81.68%.
KO has been the subject of a number of recent research reports. Macquarie set a $47.00 target price on The Coca-Cola and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $50.00 target price on shares of The Coca-Cola in a report on Thursday, July 26th. Morgan Stanley set a $49.00 target price on The Coca-Cola and gave the stock a “neutral” rating in a report on Tuesday, September 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $48.00 target price on shares of The Coca-Cola in a report on Friday, August 31st. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $52.00 target price on shares of The Coca-Cola in a research report on Wednesday, September 5th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $50.31.
In other The Coca-Cola news, insider John Murphy sold 111,468 shares of the business’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $46.46, for a total transaction of $5,178,803.28. Following the sale, the insider now owns 196,337 shares in the company, valued at approximately $9,121,817.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Kathy N. Waller sold 48,354 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $46.45, for a total value of $2,246,043.30. Following the sale, the vice president now owns 200,725 shares in the company, valued at approximately $9,323,676.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 215,822 shares of company stock worth $10,027,727. 1.48% of the stock is owned by company insiders.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; 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.
Recommended Story: Google Finance
Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Co (NYSE:KO).
Receive News & Ratings for The Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.