AlTi Global Inc. Buys 2,596 Shares of The Coca-Cola Company (NYSE:KO)

AlTi Global Inc. boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.1% during the second quarter, Holdings Channel.com reports. The firm owned 86,390 shares of the company’s stock after purchasing an additional 2,596 shares during the quarter. AlTi Global Inc.’s holdings in Coca-Cola were worth $5,538,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in Coca-Cola by 21.5% during the first 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 purchasing an additional 8,733,326 shares in the last quarter. Vontobel Asset Management Inc. boosted its position in Coca-Cola by 2.7% during the fourth quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock valued at $890,866,000 after purchasing an additional 378,447 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Coca-Cola by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock valued at $776,924,000 after purchasing an additional 2,964,850 shares in the last quarter. Putnam Investments LLC boosted its position in 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 purchasing an additional 2,973,234 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Coca-Cola by 15.7% during the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock valued at $638,344,000 after purchasing an additional 1,417,930 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.5 %

Shares of NYSE:KO opened at $71.34 on Wednesday. The business has a 50-day moving average price of $69.44 and a 200-day moving average price of $64.54. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock has a market cap of $307.47 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share. Equities 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. Investors of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 974,715 shares of company stock worth $579,704,927. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KO shares. JPMorgan Chase & Co. increased their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Morgan Stanley increased their price target on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Royal Bank of Canada increased their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Bank of America increased their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.07.

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.