Clearbridge Investments LLC Has $569.49 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Clearbridge Investments LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,947,132 shares of the company’s stock after selling 64,649 shares during the period. Clearbridge Investments LLC owned 0.21% of Coca-Cola worth $569,485,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Swedbank AB bought a new position in shares of Coca-Cola during the first quarter worth $102,604,000. Angeles Investment Advisors LLC grew its stake in shares of Coca-Cola by 2.4% in the fourth quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock worth $932,000 after purchasing an additional 374 shares during the last quarter. Wealth Quarterback LLC increased its position in shares of Coca-Cola by 3.2% during the fourth quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock worth $1,029,000 after buying an additional 537 shares during the period. BDF Gestion acquired a new position in shares of Coca-Cola during the second quarter valued at about $7,421,000. Finally, Duality Advisers LP increased its position in shares of Coca-Cola by 191.1% during the first quarter. Duality Advisers LP now owns 111,851 shares of the company’s stock worth $6,843,000 after acquiring an additional 73,434 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.1 %

Shares of Coca-Cola stock opened at $71.86 on Tuesday. The stock has a market cap of $309.57 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.97 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. 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 fifty day moving average price of $69.96 and a 200 day moving average price of $64.85.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the business earned $0.78 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Wall Street Analysts Forecast Growth

KO has been the subject of several research reports. Citigroup upped their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Insiders Place Their Bets

In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction on 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 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. In the last three months, insiders have sold 974,715 shares of company stock worth $579,704,927. Corporate insiders own 0.97% of the company’s stock.

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.