Swedbank AB Purchases 282,579 Shares of The Coca-Cola Company (NYSE:KO)

Swedbank AB boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 16.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,963,008 shares of the company’s stock after buying an additional 282,579 shares during the quarter. Swedbank AB’s holdings in Coca-Cola were worth $141,062,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Apella Capital LLC lifted its stake in Coca-Cola by 1.4% during the third quarter. Apella Capital LLC now owns 10,533 shares of the company’s stock worth $748,000 after purchasing an additional 146 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC raised its stake in shares of Coca-Cola by 2.2% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after acquiring an additional 149 shares in the last quarter. Drive Wealth Management LLC increased its holdings in Coca-Cola by 1.6% in the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after buying an additional 151 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in Coca-Cola by 4.4% in the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock valued at $231,000 after buying an additional 153 shares during the last quarter. Finally, Chapin Davis Inc. increased its holdings in Coca-Cola by 1.0% in the third quarter. Chapin Davis Inc. now owns 15,312 shares of the company’s stock valued at $1,100,000 after buying an additional 153 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the sale, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 376,096 shares of company stock valued at $25,982,352 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KO shares. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Morgan Stanley raised their price objective on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. BNP Paribas assumed coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective on the stock. Bank of America raised their price objective on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Citigroup raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $71.33.

Coca-Cola Price Performance

Shares of KO stock traded up $0.12 during midday trading on Tuesday, reaching $70.46. 5,366,942 shares of the company traded hands, compared to its average volume of 13,148,540. The firm’s 50 day simple moving average is $70.56 and its two-hundred day simple moving average is $65.52. The Coca-Cola Company has a 1-year low of $52.84 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 market cap of $303.54 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60.

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

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.75%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Coca-Cola 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.