North Star Investment Management Corp. Boosts Stock Holdings in The Coca-Cola Co (NYSE:KO)

North Star Investment Management Corp. grew its position in shares of The Coca-Cola Co (NYSE:KO) by 30.7% during the third quarter, Holdings Channel.com reports. The fund owned 89,567 shares of the company’s stock after purchasing an additional 21,023 shares during the quarter. North Star Investment Management Corp.’s holdings in The Coca-Cola were worth $4,876,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of The Coca-Cola by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 308,293,644 shares of the company’s stock worth $15,698,312,000 after buying an additional 4,225,080 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of The Coca-Cola by 1.1% in the 2nd quarter. Northern Trust Corp now owns 52,096,293 shares of the company’s stock worth $2,652,743,000 after buying an additional 589,927 shares during the last quarter. Morgan Stanley boosted its holdings in shares of The Coca-Cola by 15.0% in the 2nd quarter. Morgan Stanley now owns 41,763,050 shares of the company’s stock worth $2,126,574,000 after buying an additional 5,449,889 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of The Coca-Cola by 9,580.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 32,579,854 shares of the company’s stock worth $1,658,966,000 after buying an additional 32,243,310 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of The Coca-Cola by 20.9% in the 2nd quarter. California Public Employees Retirement System now owns 23,023,556 shares of the company’s stock worth $1,172,359,000 after buying an additional 3,984,190 shares during the last quarter. 67.49% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Lisa Chang purchased 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $53.24 per share, for a total transaction of $26,620.00. Following the completion of the transaction, the senior vice president now directly owns 5,448 shares in the company, valued at approximately $290,051.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Beatriz R. Perez sold 14,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $53.40, for a total value of $747,600.00. Following the sale, the senior vice president now owns 108,457 shares in the company, valued at $5,791,603.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 429,638 shares of company stock worth $23,411,372. Company insiders own 1.33% of the company’s stock.

A number of brokerages recently weighed in on KO. Credit Suisse Group boosted their price target on shares of The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. ValuEngine downgraded shares of The Coca-Cola from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley set a $60.00 price target on shares of The Coca-Cola and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Royal Bank of Canada restated a “buy” rating and issued a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, July 24th. Finally, BMO Capital Markets boosted their price objective on The Coca-Cola from $48.00 to $52.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $54.26.

The Coca-Cola stock traded up $0.82 during midday trading on Thursday, reaching $53.90. The stock had a trading volume of 827,167 shares, compared to its average volume of 10,960,678. The Coca-Cola Co has a 12 month low of $44.25 and a 12 month high of $55.92. The firm’s 50-day moving average price is $54.39 and its 200 day moving average price is $50.88. The firm has a market capitalization of $232.79 billion, a PE ratio of 25.90, a P/E/G ratio of 3.79 and a beta of 0.45. 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 Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $9.86 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Co will post 2.1 EPS for the current year.

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

The Coca-Cola Company 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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