The Coca-Cola Company (NYSE:KO) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 87.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 322,340 shares of the company’s stock after acquiring an additional 150,050 shares during the period. Citizens Financial Group Inc. RI’s holdings in Coca-Cola were worth $20,610,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KO. Price T Rowe Associates Inc. MD lifted its holdings in shares of Coca-Cola by 21.5% in the 1st 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 during the last quarter. Vontobel Asset Management Inc. lifted its stake in Coca-Cola by 2.7% in the fourth quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock valued at $890,866,000 after buying an additional 378,447 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Coca-Cola by 30.5% in 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 acquiring an additional 2,964,850 shares during the period. Putnam Investments LLC grew its position in shares of Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after acquiring an additional 2,973,234 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Coca-Cola by 15.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock valued at $638,344,000 after acquiring an additional 1,417,930 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction 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 directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 974,715 shares of company stock valued at $579,704,927. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KO shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. BNP Paribas assumed coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Argus lifted their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Citigroup lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $70.73.

Coca-Cola Trading Up 0.3 %

Shares of KO opened at $71.41 on Monday. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The stock has a fifty day moving average of $68.28 and a two-hundred day moving average of $63.95. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company has a market capitalization of $307.63 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.72%. Coca-Cola’s payout ratio is 77.60%.

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.