LGT Group Foundation Acquires 78,360 Shares of The Coca-Cola Company (NYSE:KO)

LGT Group Foundation increased its holdings in The Coca-Cola Company (NYSE:KOGet Rating) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 797,902 shares of the company’s stock after purchasing an additional 78,360 shares during the quarter. Coca-Cola makes up 1.2% of LGT Group Foundation’s investment portfolio, making the stock its 16th biggest holding. LGT Group Foundation’s holdings in Coca-Cola were worth $50,165,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Berkshire Bank grew its position in Coca-Cola by 2.2% during the first quarter. Berkshire Bank now owns 7,067 shares of the company’s stock valued at $438,000 after buying an additional 155 shares during the period. Fiducient Advisors LLC boosted its position in shares of Coca-Cola by 2.8% in the first quarter. Fiducient Advisors LLC now owns 5,843 shares of the company’s stock worth $365,000 after purchasing an additional 159 shares during the period. Security Financial Services INC. boosted its position in shares of Coca-Cola by 3.5% in the first quarter. Security Financial Services INC. now owns 4,710 shares of the company’s stock worth $292,000 after purchasing an additional 160 shares during the period. CWA Asset Management Group LLC boosted its position in shares of Coca-Cola by 2.4% in the first quarter. CWA Asset Management Group LLC now owns 6,841 shares of the company’s stock worth $424,000 after purchasing an additional 160 shares during the period. Finally, Clear Creek Financial Management LLC boosted its position in shares of Coca-Cola by 1.5% in the first quarter. Clear Creek Financial Management LLC now owns 11,012 shares of the company’s stock worth $683,000 after purchasing an additional 162 shares during the period. Institutional investors own 68.51% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock traded up $0.15 during mid-day trading on Friday, reaching $65.37. 215,142 shares of the company’s stock traded hands, compared to its average volume of 11,425,917. The company has a market cap of $282.70 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 4.11 and a beta of 0.53. The stock has a 50 day moving average of $62.64 and a two-hundred day moving average of $62.63. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.48. The Coca-Cola Company has a 12-month low of $52.28 and a 12-month high of $67.20.

Coca-Cola (NYSE:KOGet Rating) last announced its earnings results on Tuesday, July 26th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. Coca-Cola had a net margin of 23.16% and a return on equity of 42.13%. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $10.57 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts forecast that The Coca-Cola Company will post 2.46 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, September 15th. Coca-Cola’s dividend payout ratio is currently 79.64%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KO. HSBC upped their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. JPMorgan Chase & Co. set a $70.00 price target on shares of Coca-Cola in a research report on Tuesday, July 26th. Cowen upped their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 26th. UBS Group boosted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Finally, StockNews.com raised shares of Coca-Cola from a “hold” rating to a “buy” rating in a report on Saturday, August 6th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $69.35.

Insider Activity

In other news, Director Carolyn Everson bought 983 shares of Coca-Cola stock in a transaction dated Wednesday, July 27th. The shares were acquired at an average price of $62.29 per share, with a total value of $61,231.07. Following the completion of the purchase, the director now owns 1,500 shares in the company, valued at approximately $93,435. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Kathy Loveless sold 2,512 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $64.00, for a total value of $160,768.00. Following the transaction, the vice president now directly owns 1,370 shares in the company, valued at $87,680. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carolyn Everson purchased 983 shares of the business’s stock in a transaction dated Wednesday, July 27th. The stock was bought at an average price of $62.29 per share, for a total transaction of $61,231.07. Following the completion of the acquisition, the director now owns 1,500 shares of the company’s stock, valued at approximately $93,435. The disclosure for this purchase can be found here. Insiders own 0.98% of the company’s stock.

Coca-Cola Profile

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The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

See Also

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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