Tower Research Capital LLC TRC Boosts Stake in The Coca-Cola Co (KO)

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Tower Research Capital LLC TRC grew its position in shares of The Coca-Cola Co (NYSE:KO) by 5,059.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 103,179 shares of the company’s stock after acquiring an additional 101,179 shares during the quarter. Tower Research Capital LLC TRC’s holdings in The Coca-Cola were worth $4,525,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. New England Asset Management Inc. boosted its position in shares of The Coca-Cola by 14.9% during the 2nd quarter. New England Asset Management Inc. now owns 78,925 shares of the company’s stock valued at $3,462,000 after acquiring an additional 10,225 shares during the last quarter. Zacks Investment Management boosted its position in shares of The Coca-Cola by 0.9% during the 2nd quarter. Zacks Investment Management now owns 908,095 shares of the company’s stock valued at $39,829,000 after acquiring an additional 8,278 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC boosted its position in shares of The Coca-Cola by 1.7% during the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 70,938 shares of the company’s stock valued at $3,111,000 after acquiring an additional 1,172 shares during the last quarter. Signaturefd LLC boosted its position in shares of The Coca-Cola by 27.2% during the 2nd quarter. Signaturefd LLC now owns 660,147 shares of the company’s stock valued at $28,954,000 after acquiring an additional 140,972 shares during the last quarter. Finally, Impax Asset Management LLC boosted its position in shares of The Coca-Cola by 10.5% during the 2nd quarter. Impax Asset Management LLC now owns 47,771 shares of the company’s stock valued at $2,095,000 after acquiring an additional 4,547 shares during the last quarter. Hedge funds and other institutional investors own 65.41% of the company’s stock.

In other news, VP Kathy N. Waller sold 48,354 shares of The Coca-Cola stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $46.45, for a total transaction of $2,246,043.30. Following the completion of the sale, the vice president now directly owns 200,725 shares in the company, valued at $9,323,676.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Murphy sold 111,468 shares of The Coca-Cola stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $46.46, for a total value of $5,178,803.28. Following the sale, the insider now owns 196,337 shares of the company’s stock, valued at $9,121,817.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,822 shares of company stock valued at $10,027,727. Corporate insiders own 1.48% of the company’s stock.

A number of research analysts have recently commented on KO shares. Jefferies Financial Group reiterated a “neutral” rating and set a $44.00 target price on shares of The Coca-Cola in a research report on Friday, May 25th. Macquarie reiterated a “neutral” rating and set a $47.00 target price on shares of The Coca-Cola in a research report on Wednesday, June 13th. Zacks Investment Research downgraded The Coca-Cola from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Stifel Nicolaus restated a “neutral” rating and issued a $49.00 price target on shares of The Coca-Cola in a research report on Monday, July 16th. Finally, JPMorgan Chase & Co. restated a “$45.12” rating and issued a $49.00 price target on shares of The Coca-Cola in a research report on Wednesday, July 18th. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The Coca-Cola currently has a consensus rating of “Hold” and a consensus price target of $50.31.

Shares of KO opened at $45.99 on Friday. The Coca-Cola Co has a 52-week low of $41.45 and a 52-week high of $48.62. The firm has a market capitalization of $197.26 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.85 and a beta of 0.74. The company has a quick ratio of 1.06, a current ratio of 1.15 and a debt-to-equity ratio of 1.39.

The Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, July 25th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The Coca-Cola had a return on equity of 40.68% and a net margin of 7.18%. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. sell-side analysts anticipate that The Coca-Cola Co will post 2.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, September 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 3.39%. The Coca-Cola’s dividend payout ratio (DPR) is 81.68%.

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.

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

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