Westpac Banking Corp Increases Stock Position in The Coca-Cola Co (NYSE:KO)

Westpac Banking Corp raised its position in shares of The Coca-Cola Co (NYSE:KO) by 8.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 419,529 shares of the company’s stock after buying an additional 32,634 shares during the period. Westpac Banking Corp’s holdings in The Coca-Cola were worth $21,362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in KO. Prime Capital Investment Advisors LLC bought a new position in shares of The Coca-Cola in the 1st quarter worth about $28,000. Orrstown Financial Services Inc. increased its stake in shares of The Coca-Cola by 230.8% in the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after acquiring an additional 517 shares in the last quarter. Financial Gravity Wealth Inc. bought a new position in shares of The Coca-Cola in the 1st quarter worth about $35,000. Canton Hathaway LLC increased its stake in shares of The Coca-Cola by 83.5% in the 2nd quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after acquiring an additional 430 shares in the last quarter. Finally, PRW Wealth Management LLC bought a new position in shares of The Coca-Cola in the 4th quarter worth about $50,000. 66.69% of the stock is owned by institutional investors and hedge funds.

Shares of KO stock traded up $0.23 during trading hours on Tuesday, reaching $53.43. The company had a trading volume of 6,451,408 shares, compared to its average volume of 14,153,410. The business has a fifty day moving average of $52.37. The Coca-Cola Co has a one year low of $44.25 and a one year high of $54.82. The firm has a market capitalization of $228.43 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.71 and a beta of 0.48. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 1.44.



The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 EPS for the quarter, topping 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 analyst estimates of $9.86 billion. During the same period in the previous year, the business posted $0.61 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts anticipate that The Coca-Cola Co will post 2.1 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.99%. The Coca-Cola’s dividend payout ratio is presently 76.92%.

Several brokerages recently issued reports on KO. Atlantic Securities began coverage on shares of The Coca-Cola in a research note on Monday, July 29th. They issued an “overweight” rating and a $62.00 price target for the company. Zacks Investment Research upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Tuesday, June 4th. SunTrust Banks increased their price target on shares of The Coca-Cola to $60.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Morgan Stanley reiterated a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a research note on Wednesday, July 31st. Finally, Deutsche Bank increased their price target on shares of The Coca-Cola from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.86.

In related news, insider James L. Dinkins sold 45,875 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.26, for a total value of $2,443,302.50. Following the transaction, the insider now owns 95,101 shares of the company’s stock, valued at $5,065,079.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Beatriz R. Perez sold 14,094 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $49.50, for a total transaction of $697,653.00. Following the completion of the transaction, the senior vice president now directly owns 108,551 shares in the company, valued at approximately $5,373,274.50. The disclosure for this sale can be found here. Insiders sold 345,855 shares of company stock valued at $17,516,258 over the last quarter. Company insiders own 1.33% of the company’s stock.

The Coca-Cola Profile

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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