Rosenbaum Jay D. Grows Stock Holdings in The Coca-Cola Co (NYSE:KO)

Rosenbaum Jay D. grew its holdings in shares of The Coca-Cola Co (NYSE:KO) by 3.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,174 shares of the company’s stock after purchasing an additional 600 shares during the period. The Coca-Cola makes up approximately 1.6% of Rosenbaum Jay D.’s holdings, making the stock its 29th largest position. Rosenbaum Jay D.’s holdings in The Coca-Cola were worth $823,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Arbor Wealth Management LLC raised its holdings in The Coca-Cola by 13.2% in the 2nd quarter. Arbor Wealth Management LLC now owns 1,706 shares of the company’s stock worth $87,000 after acquiring an additional 199 shares during the last quarter. Investment Partners LTD. grew its position in The Coca-Cola by 1.0% in the 2nd quarter. Investment Partners LTD. now owns 20,577 shares of the company’s stock worth $1,048,000 after purchasing an additional 202 shares during the period. Centerpoint Advisors LLC grew its position in The Coca-Cola by 13.3% in the 2nd quarter. Centerpoint Advisors LLC now owns 1,734 shares of the company’s stock worth $88,000 after purchasing an additional 203 shares during the period. Paulson Wealth Management Inc. grew its position in The Coca-Cola by 3.2% in the 1st quarter. Paulson Wealth Management Inc. now owns 6,622 shares of the company’s stock worth $310,000 after purchasing an additional 208 shares during the period. Finally, Essex Financial Services Inc. grew its position in The Coca-Cola by 1.1% in the 2nd quarter. Essex Financial Services Inc. now owns 19,356 shares of the company’s stock worth $986,000 after purchasing an additional 213 shares during the period. Hedge funds and other institutional investors own 66.69% of the company’s stock.

KO has been the subject of a number of research analyst reports. Credit Suisse Group lifted their target price on shares of The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Tuesday, June 4th. ValuEngine raised shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. BMO Capital Markets lifted their target price on shares of The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Finally, HSBC reaffirmed a “neutral” rating and issued a $52.00 target price on shares of The Coca-Cola in a research report on Wednesday, July 24th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $54.10.

Shares of KO stock traded up $0.89 during mid-day trading on Thursday, reaching $53.88. 4,799,382 shares of the company’s stock traded hands, compared to its average volume of 14,180,490. The Coca-Cola Co has a 12 month low of $44.25 and a 12 month high of $54.82. The firm’s 50 day moving average price is $52.43. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44. The stock has a market cap of $227.40 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 3.70 and a beta of 0.48.

The Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Friday, September 13th. The Coca-Cola’s payout ratio is 76.92%.

In related news, SVP Robert Edward Long sold 30,412 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $49.97, for a total value of $1,519,687.64. Following the completion of the transaction, the senior vice president now owns 57,538 shares of the company’s stock, valued at approximately $2,875,173.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer K. Mann sold 9,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $51.88, for a total transaction of $466,920.00. Following the completion of the transaction, the insider now directly owns 41,049 shares of the company’s stock, valued at approximately $2,129,622.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,761 shares of company stock valued at $16,182,125. Insiders own 1.33% of the company’s stock.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; 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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