The Coca-Cola Company (NYSE:KO) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.8% during the second quarter, Holdings Channel.com reports. The fund owned 4,847,781 shares of the company’s stock after acquiring an additional 130,581 shares during the period. Envestnet Asset Management Inc.’s holdings in Coca-Cola were worth $308,561,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Focus Financial Network Inc. ADV acquired a new position in shares of Coca-Cola in the fourth quarter valued at about $3,255,000. Swedbank AB acquired a new position in Coca-Cola in the 1st quarter worth approximately $102,604,000. Angeles Investment Advisors LLC raised its position in Coca-Cola by 2.4% during the 4th quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock worth $932,000 after buying an additional 374 shares during the last quarter. Wealth Quarterback LLC boosted its holdings in shares of Coca-Cola by 3.2% in the 4th quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock valued at $1,029,000 after acquiring an additional 537 shares during the last quarter. Finally, BDF Gestion acquired a new stake in shares of Coca-Cola in the second quarter worth $7,421,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KO has been the topic of several recent research reports. Bank of America upped their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Barclays raised their target price on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. TD Cowen raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Citigroup boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction dated 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 owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Up 0.9 %

Shares of KO opened at $71.41 on Friday. The stock has a 50 day moving average price of $68.28 and a 200 day moving average price of $63.93. 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 stock has a market capitalization of $307.77 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly 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. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same period last year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared 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 of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.72%. Coca-Cola’s dividend payout ratio is presently 77.60%.

About Coca-Cola

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.