First Dallas Securities Inc. Buys New Shares in Coca-Cola Co (The) (NYSE:KO)

First Dallas Securities Inc. purchased a new position in shares of Coca-Cola Co (The) (NYSE:KO) in the 3rd quarter, Holdings Channel reports. The firm purchased 15,052 shares of the company’s stock, valued at approximately $743,000.

A number of other large investors also recently bought and sold shares of KO. BlackRock Inc. increased its stake in Coca-Cola by 6.7% during the second quarter. BlackRock Inc. now owns 298,038,286 shares of the company’s stock worth $13,316,350,000 after acquiring an additional 18,701,930 shares during the last quarter. Capital World Investors grew its holdings in shares of Coca-Cola by 17.8% during the 1st quarter. Capital World Investors now owns 38,240,690 shares of the company’s stock worth $1,692,153,000 after purchasing an additional 5,792,057 shares during the period. Advisor Group Holdings Inc. acquired a new stake in Coca-Cola during the 1st quarter worth approximately $47,894,000. APG Asset Management N.V. raised its holdings in Coca-Cola by 39.7% in the first quarter. APG Asset Management N.V. now owns 12,591,482 shares of the company’s stock valued at $557,173,000 after buying an additional 3,580,852 shares during the period. Finally, State Street Corp lifted its position in Coca-Cola by 1.0% during the first quarter. State Street Corp now owns 183,307,489 shares of the company’s stock valued at $8,185,610,000 after buying an additional 1,787,004 shares in the last quarter. 65.86% of the stock is currently owned by institutional investors.

NYSE KO opened at $50.03 on Friday. The company has a market capitalization of $214.90 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 5.91 and a beta of 0.55. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.09 and a quick ratio of 0.96. Coca-Cola Co has a 12 month low of $36.27 and a 12 month high of $60.13. The company’s fifty day moving average price is $49.97 and its two-hundred day moving average price is $47.25.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 21st. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.26 billion. Coca-Cola had a net margin of 26.77% and a return on equity of 41.44%. The company’s revenue for the quarter was down 28.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. As a group, analysts anticipate that Coca-Cola Co will post 1.79 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Monday, November 30th. Coca-Cola’s dividend payout ratio is presently 77.73%.

KO has been the topic of a number of research reports. Morgan Stanley raised shares of Coca-Cola from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $52.00 to $54.00 in a research note on Wednesday, July 22nd. They noted that the move was a valuation call. Zacks Investment Research lowered Coca-Cola from a “hold” rating to a “sell” rating and set a $52.00 price objective on the stock. in a research report on Tuesday, September 22nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $53.00 target price on shares of Coca-Cola in a research report on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Coca-Cola currently has an average rating of “Buy” and an average price target of $54.19.

In other news, Director David B. Weinberg sold 98,905 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $48.50, for a total value of $4,796,892.50. Following the transaction, the director now directly owns 355,214 shares in the company, valued at approximately $17,227,879. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David B. Weinberg sold 400,000 shares of Coca-Cola stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $48.42, for a total transaction of $19,368,000.00. Following the completion of the transaction, the director now directly owns 355,214 shares of the company’s stock, valued at $17,199,461.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 836,439 shares of company stock worth $40,380,407. 1.01% of the stock is currently owned by company insiders.

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 Coca-Cola (NYSE:KO)

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