New York Life Investment Management LLC Has $33.98 Million Stake in The Coca-Cola Company (NYSE:KO)

New York Life Investment Management LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 533,858 shares of the company’s stock after acquiring an additional 890 shares during the quarter. New York Life Investment Management LLC’s holdings in Coca-Cola were worth $33,980,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of KO. Norges Bank acquired a new position in Coca-Cola in the fourth quarter worth $2,808,056,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Coca-Cola by 21.5% in the first 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 buying an additional 8,733,326 shares during the last quarter. Fisher Asset Management LLC lifted its position in Coca-Cola by 11,127.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock worth $293,043,000 after buying an additional 4,928,441 shares in the last quarter. Pathstone Holdings LLC bought a new stake in Coca-Cola during the 4th quarter worth about $193,342,000. Finally, Putnam Investments LLC raised its stake in shares of Coca-Cola by 32.8% in 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. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Down 0.0 %

Shares of NYSE KO opened at $71.15 on Friday. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53. 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 cap of $306.51 billion, a P/E ratio of 28.46, a P/E/G ratio of 4.05 and a beta of 0.59. The firm has a 50 day moving average price of $67.48 and a 200 day moving average price of $63.54.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. Analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. In the last three months, insiders sold 1,074,910 shares of company stock worth $585,972,318. 0.97% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KO. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday. Bank of America increased their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. BNP Paribas started coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Citigroup boosted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

Coca-Cola 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.