The Coca-Cola Company (NYSE:KO) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,653 shares of the company’s stock after buying an additional 329 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Coca-Cola were worth $233,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Angeles Investment Advisors LLC boosted its position in shares of Coca-Cola by 3.0% during the 2nd quarter. Angeles Investment Advisors LLC now owns 18,913 shares of the company’s stock valued at $1,207,000 after purchasing an additional 543 shares in the last quarter. Fairfield Financial Advisors LTD bought a new position in shares of Coca-Cola during the 2nd quarter valued at about $65,000. Brown Brothers Harriman & Co. boosted its position in shares of Coca-Cola by 2.9% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 209,513 shares of the company’s stock valued at $13,336,000 after purchasing an additional 5,903 shares in the last quarter. Quilter Plc boosted its position in shares of Coca-Cola by 3.0% during the 2nd quarter. Quilter Plc now owns 1,369,560 shares of the company’s stock valued at $87,172,000 after purchasing an additional 39,902 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Coca-Cola in the second quarter worth about $310,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the company’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 transaction of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the company’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 transaction of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock valued at $579,704,927 over the last 90 days. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Up 0.1 %

Shares of NYSE KO opened at $71.71 on Tuesday. The stock has a market cap of $308.92 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 3.93 and a beta of 0.60. The business has a 50 day simple moving average of $69.30 and a 200 day simple moving average of $64.46. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last announced its quarterly 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 business 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%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. On average, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.71%. Coca-Cola’s payout ratio is currently 77.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on KO shares. Wells Fargo & Company boosted their price target on shares of Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

About Coca-Cola

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.