Dai ichi Life Insurance Company Ltd Sells 20,607 Shares of The Coca-Cola Company (NYSE:KO)

Dai ichi Life Insurance Company Ltd cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 505,777 shares of the company’s stock after selling 20,607 shares during the period. Coca-Cola comprises approximately 0.8% of Dai ichi Life Insurance Company Ltd’s investment portfolio, making the stock its 22nd biggest position. Dai ichi Life Insurance Company Ltd’s holdings in Coca-Cola were worth $32,193,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. 1ST Source Bank boosted its position in Coca-Cola by 3.1% during the second quarter. 1ST Source Bank now owns 19,311 shares of the company’s stock valued at $1,229,000 after acquiring an additional 581 shares during the last quarter. Hardin Capital Partners LLC acquired a new stake in Coca-Cola during the second quarter worth approximately $701,000. Meeder Advisory Services Inc. increased its holdings in Coca-Cola by 27.5% in the second quarter. Meeder Advisory Services Inc. now owns 61,136 shares of the company’s stock worth $3,891,000 after purchasing an additional 13,176 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Coca-Cola by 8.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 8,310,453 shares of the company’s stock valued at $532,558,000 after buying an additional 640,402 shares during the period. Finally, Ullmann Wealth Partners Group LLC boosted its holdings in shares of Coca-Cola by 6.9% during the 2nd quarter. Ullmann Wealth Partners Group LLC now owns 7,901 shares of the company’s stock worth $503,000 after buying an additional 512 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.3 %

Shares of Coca-Cola stock opened at $71.41 on Friday. The stock has a fifty day moving average price of $68.28 and a 200-day moving average price of $63.90. 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 firm has a market cap of $307.77 billion, a PE ratio of 28.56, a P/E/G ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS 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 business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the previous 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 anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Ratings Changes

A number of research analysts recently issued reports on KO shares. BNP Paribas assumed coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. TD Cowen increased their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.73.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction on 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 in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock worth $579,704,927 over the last ninety days. 0.97% of the stock is currently owned by company insiders.

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.