The Coca-Cola Company (NYSE:KO) Shares Acquired by Cardinal Capital Management

Cardinal Capital Management increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,225 shares of the company’s stock after purchasing an additional 420 shares during the period. Cardinal Capital Management’s holdings in Coca-Cola were worth $4,625,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacific Wealth Strategies Group Inc. boosted its position in Coca-Cola by 12.8% during the first quarter. Pacific Wealth Strategies Group Inc. now owns 15,800 shares of the company’s stock worth $980,000 after acquiring an additional 1,788 shares during the last quarter. Arabesque Asset Management Ltd boosted its holdings in shares of Coca-Cola by 104.1% during the 4th quarter. Arabesque Asset Management Ltd now owns 73,354 shares of the company’s stock worth $4,666,000 after purchasing an additional 37,412 shares during the last quarter. Janney Capital Management LLC grew its position in shares of Coca-Cola by 13.5% in the first quarter. Janney Capital Management LLC now owns 50,687 shares of the company’s stock valued at $3,144,000 after purchasing an additional 6,020 shares in the last quarter. Procyon Advisors LLC increased its holdings in shares of Coca-Cola by 26.1% in the first quarter. Procyon Advisors LLC now owns 13,313 shares of the company’s stock valued at $826,000 after purchasing an additional 2,758 shares during the last quarter. Finally, National Pension Service lifted its position in Coca-Cola by 2.3% during the fourth quarter. National Pension Service now owns 5,950,675 shares of the company’s stock worth $378,522,000 after buying an additional 134,244 shares in the last quarter. 68.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Monica Howard Douglas sold 21,074 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the transaction, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at approximately $1,118,124. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Beatriz R. Perez sold 50,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the completion of the transaction, the senior vice president now owns 143,383 shares in the company, valued at $8,984,378.78. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the completion of the transaction, the senior vice president now directly owns 18,360 shares in the company, valued at approximately $1,118,124. The disclosure for this sale can be found here. Over the last three months, insiders have sold 227,364 shares of company stock worth $14,122,016. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of a number of recent research reports. Barclays raised their target price on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. StockNews.com began coverage on shares of Coca-Cola in a research note on Thursday, August 17th. They issued a “buy” rating for the company. HSBC reduced their price target on shares of Coca-Cola from $77.00 to $74.00 in a research report on Wednesday, June 7th. Finally, Wedbush raised their target price on Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $68.33.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $58.30 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95. The stock has a market capitalization of $252.11 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 3.40 and a beta of 0.55. The business has a 50-day moving average of $60.49 and a 200 day moving average of $61.25. The Coca-Cola Company has a 12 month low of $54.01 and a 12 month high of $64.99.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $11.74 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.63 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s dividend payout ratio is currently 75.72%.

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.