Coastal Bridge Advisors LLC Grows Stock Holdings in The Coca-Cola Company (NYSE:KO)

Coastal Bridge Advisors LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 30,630 shares of the company’s stock after purchasing an additional 559 shares during the period. Coastal Bridge Advisors LLC’s holdings in The Coca-Cola were worth $1,657,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Litman Gregory Asset Management LLC purchased a new position in The Coca-Cola in the 2nd quarter worth approximately $27,000. Goodwin Investment Advisory grew its position in The Coca-Cola by 70.5% in the 2nd quarter. Goodwin Investment Advisory now owns 520 shares of the company’s stock worth $100,000 after purchasing an additional 215 shares during the period. Elkhorn Partners Limited Partnership bought a new stake in The Coca-Cola in the 1st quarter worth approximately $32,000. Hillsdale Investment Management Inc. bought a new stake in The Coca-Cola in the 2nd quarter worth approximately $32,000. Finally, Tortoise Investment Management LLC grew its position in The Coca-Cola by 108.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 618 shares of the company’s stock worth $33,000 after purchasing an additional 322 shares during the period. Hedge funds and other institutional investors own 66.67% of the company’s stock.

KO stock traded up $0.31 during mid-day trading on Wednesday, hitting $56.00. The company had a trading volume of 322,740 shares, compared to its average volume of 15,537,233. The company has a 50-day moving average price of $56.29 and a 200 day moving average price of $54.55. The company has a quick ratio of 1.25, a current ratio of 1.47 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $241.45 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 2.85 and a beta of 0.62. The Coca-Cola Company has a 12-month low of $47.30 and a 12-month high of $57.56.

The Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 20th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.12. The firm had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $9.30 billion. The Coca-Cola had a net margin of 22.19% and a return on equity of 44.17%. The business’s revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. As a group, analysts expect that The Coca-Cola Company will post 2.25 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 15th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Tuesday, September 14th. The Coca-Cola’s dividend payout ratio is 86.15%.

A number of equities research analysts have commented on KO shares. UBS Group lifted their target price on shares of The Coca-Cola from $59.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, July 22nd. Truist boosted their price objective on shares of The Coca-Cola from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, July 22nd. Citigroup boosted their price objective on shares of The Coca-Cola from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, July 22nd. Wells Fargo & Company boosted their price objective on shares of The Coca-Cola from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, July 22nd. Finally, Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Tuesday, July 6th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $61.25.

In related news, COO Brian John Smith sold 10,000 shares of the stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $55.65, for a total value of $556,500.00. Following the sale, the chief operating officer now directly owns 144,229 shares of the company’s stock, valued at approximately $8,026,343.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Nancy Quan sold 19,911 shares of the stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $56.50, for a total transaction of $1,124,971.50. Following the completion of the sale, the senior vice president now directly owns 196,745 shares in the company, valued at $11,116,092.50. The disclosure for this sale can be found here. Insiders have sold a total of 68,188 shares of company stock worth $3,864,107 over the last 90 days. Corporate insiders own 1.01% of the company’s stock.

The Coca-Cola Profile

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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

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