Coastal Bridge Advisors LLC Buys 559 Shares of The Coca-Cola Company (NYSE:KO)

Coastal Bridge Advisors LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,630 shares of the company’s stock after buying an additional 559 shares during the period. Coastal Bridge Advisors LLC’s holdings in The Coca-Cola were worth $1,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. Arrowstreet Capital Limited Partnership lifted its stake in shares of The Coca-Cola by 536.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,465,534 shares of the company’s stock valued at $498,928,000 after purchasing an additional 7,977,794 shares during the period. King Luther Capital Management Corp lifted its stake in shares of The Coca-Cola by 100,495.4% in the 1st quarter. King Luther Capital Management Corp now owns 4,225,008 shares of the company’s stock valued at $222,700,000 after purchasing an additional 4,220,808 shares during the period. Vontobel Asset Management Inc. lifted its stake in shares of The Coca-Cola by 49.8% in the 1st quarter. Vontobel Asset Management Inc. now owns 11,872,856 shares of the company’s stock valued at $649,350,000 after purchasing an additional 3,945,728 shares during the period. Amundi Asset Management US Inc. lifted its stake in shares of The Coca-Cola by 47.0% in the 1st quarter. Amundi Asset Management US Inc. now owns 11,195,967 shares of the company’s stock valued at $590,141,000 after purchasing an additional 3,578,349 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in shares of The Coca-Cola in the 1st quarter valued at about $184,603,000. Hedge funds and other institutional investors own 66.67% of the company’s stock.

NYSE KO traded up $0.31 on Wednesday, hitting $56.00. 322,740 shares of the stock traded hands, compared to its average volume of 15,537,233. The business’s fifty day moving average is $56.29 and its two-hundred day moving average is $54.55. The Coca-Cola Company has a 12 month low of $47.30 and a 12 month high of $57.56. The firm has a market capitalization of $241.45 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.85 and a beta of 0.62. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.25 and a current ratio of 1.47.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 20th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.12. The Coca-Cola had a return on equity of 44.17% and a net margin of 22.19%. The business had revenue of $10.10 billion during the quarter, compared to analyst estimates of $9.30 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The Coca-Cola’s revenue was up 40.3% compared to the same quarter last year. Analysts expect that The Coca-Cola Company will post 2.25 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, September 14th. The Coca-Cola’s dividend payout ratio (DPR) is 86.15%.

In other The Coca-Cola news, COO Brian John Smith sold 10,000 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $55.65, for a total transaction of $556,500.00. Following the sale, the chief operating officer now owns 144,229 shares in the company, valued at $8,026,343.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Randazza sold 31,652 shares of the stock in a transaction on Monday, July 26th. The stock was sold at an average price of $57.01, for a total value of $1,804,480.52. Following the sale, the insider now owns 69,925 shares in the company, valued at approximately $3,986,424.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,188 shares of company stock worth $3,864,107. Company insiders own 1.01% of the company’s stock.

A number of research analysts recently weighed in on KO shares. Truist upped their price target on The Coca-Cola from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, July 22nd. UBS Group upped their price target on The Coca-Cola from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, July 22nd. Wells Fargo & Company upped their price target on The Coca-Cola from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, July 22nd. Argus upped their price target on The Coca-Cola from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, June 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on The Coca-Cola from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, July 22nd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, The Coca-Cola currently has an average rating of “Buy” and a consensus target price of $61.25.

About The Coca-Cola

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

Further Reading: Hold Rating

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

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