Vanguard Personalized Indexing Management LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Vanguard Personalized Indexing Management LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 15.3% in the second quarter, Holdings Channel reports. The fund owned 351,568 shares of the company’s stock after purchasing an additional 46,667 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Coca-Cola were worth $21,934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Tidemark LLC purchased a new position in Coca-Cola during the 4th quarter valued at about $26,000. New Millennium Group LLC acquired a new position in Coca-Cola during the second quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola in the first quarter valued at approximately $28,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the first quarter valued at approximately $28,000. Finally, Frazier Financial Advisors LLC acquired a new position in Coca-Cola during the fourth quarter worth $31,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on KO shares. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Morgan Stanley upped their price target on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Wells Fargo & Company increased their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday. Finally, Bank of America increased their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Stock Performance

KO stock opened at $71.80 on Wednesday. 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 stock has a market capitalization of $309.31 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The company has a 50 day moving average price of $68.65 and a 200 day moving average price of $64.13. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53.

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

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is presently 77.60%.

Insider Activity

In related news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. Insiders have sold 974,715 shares of company stock valued at $579,704,927 over the last ninety days. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Company Profile

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.