Norden Group LLC Purchases 928 Shares of The Coca-Cola Company (NYSE:KO)

Norden Group LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,820 shares of the company’s stock after purchasing an additional 928 shares during the quarter. Norden Group LLC’s holdings in Coca-Cola were worth $1,898,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in KO. Norges Bank acquired a new position in Coca-Cola during the 4th quarter worth about $2,808,056,000. Price T Rowe Associates Inc. MD lifted its position in Coca-Cola by 21.5% during the 1st 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 purchasing an additional 8,733,326 shares during the period. Fisher Asset Management LLC raised its position in shares of Coca-Cola by 11,127.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock valued at $293,043,000 after acquiring an additional 4,928,441 shares during the period. Pathstone Holdings LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $193,342,000. Finally, Putnam Investments LLC raised its position in shares of Coca-Cola by 32.8% in the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after acquiring an additional 2,973,234 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,074,910 shares of company stock valued at $585,972,318. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

Coca-Cola stock traded down $0.03 during mid-day trading on Friday, hitting $71.14. 17,485,707 shares of the company’s stock traded hands, compared to its average volume of 13,186,163. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The stock has a market cap of $306.47 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 4.05 and a beta of 0.60. The firm has a 50 day simple moving average of $67.48 and a two-hundred day simple moving average of $63.54.

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

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued 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 is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analysts Set New Price Targets

KO has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. TD Cowen raised their price target 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. Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday. Argus raised their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, BNP Paribas assumed coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

Coca-Cola Company 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.