Fiduciary Group LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,816 shares of the company’s stock after purchasing an additional 4,562 shares during the quarter. Fiduciary Group LLC’s holdings in Coca-Cola were worth $7,638,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA purchased a new stake in Coca-Cola during the second quarter valued at $34,000. Rational Advisors LLC purchased a new stake in Coca-Cola during the first quarter valued at $37,000. San Luis Wealth Advisors LLC purchased a new stake in Coca-Cola during the first quarter valued at $41,000. Tortoise Investment Management LLC increased its position in Coca-Cola by 43.0% during the first quarter. Tortoise Investment Management LLC now owns 884 shares of the company’s stock valued at $55,000 after acquiring an additional 266 shares during the last quarter. Finally, Corbenic Partners LLC increased its position in Coca-Cola by 626.2% during the second quarter. Corbenic Partners LLC now owns 915 shares of the company’s stock valued at $58,000 after acquiring an additional 789 shares during the last quarter. 68.93% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
KO has been the subject of several recent research reports. Credit Suisse Group set a $64.00 price target on Coca-Cola in a report on Wednesday, October 26th. StockNews.com initiated coverage on Coca-Cola in a report on Wednesday, October 12th. They set a “buy” rating for the company. Morgan Stanley cut their price target on Coca-Cola from $74.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, October 4th. UBS Group boosted their price target on Coca-Cola from $63.00 to $68.00 in a report on Wednesday, October 26th. Finally, Jefferies Financial Group cut their price target on Coca-Cola from $66.00 to $59.00 and set a “hold” rating for the company in a report on Tuesday, October 11th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.
Coca-Cola Price Performance
Coca-Cola Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.81%. The ex-dividend date is Wednesday, November 30th. Coca-Cola’s payout ratio is 76.86%.
Insider Transactions at Coca-Cola
In other news, Director Herbert A. Allen III purchased 33,200 shares of Coca-Cola stock in a transaction dated Friday, October 28th. The shares were purchased at an average price of $60.18 per share, with a total value of $1,997,976.00. Following the transaction, the director now owns 99,054 shares in the company, valued at $5,961,069.72. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Coca-Cola news, SVP Nancy Quan sold 13,746 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $61.12, for a total value of $840,155.52. Following the sale, the senior vice president now owns 184,710 shares of the company’s stock, valued at $11,289,475.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Herbert A. Allen III bought 33,200 shares of the business’s stock in a transaction on Friday, October 28th. The stock was purchased at an average cost of $60.18 per share, for a total transaction of $1,997,976.00. Following the transaction, the director now owns 99,054 shares of the company’s stock, valued at $5,961,069.72. The disclosure for this purchase can be found here. Insiders own 0.98% of the company’s stock.
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; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
- Get a free copy of the StockNews.com research report on Coca-Cola (KO)
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