Silvercrest Asset Management Group LLC Purchases 130,061 Shares of The Coca-Cola Company (NYSE:KO)
Silvercrest Asset Management Group LLC boosted its position in The Coca-Cola Company (NYSE:KO – Free Report) by 45.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 418,632 shares of the company’s stock after acquiring an additional 130,061 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Coca-Cola were worth $25,210,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in shares of Coca-Cola during the first quarter valued at approximately $77,000. Merit Financial Group LLC increased its position in shares of Coca-Cola by 16.7% during the first quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock valued at $758,000 after acquiring an additional 1,754 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Coca-Cola by 41.4% during the first quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after acquiring an additional 43,680 shares during the last quarter. Ergoteles LLC increased its position in shares of Coca-Cola by 385.3% during the first quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock valued at $1,180,000 after acquiring an additional 15,110 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Coca-Cola by 11.9% during the first quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after acquiring an additional 301,804 shares during the last quarter. Institutional investors own 68.96% of the company’s stock.
Coca-Cola Price Performance
Coca-Cola stock opened at $58.55 on Monday. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.99. The business has a fifty day moving average price of $56.04 and a 200-day moving average price of $58.93. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.14 and a quick ratio of 0.97. The firm has a market capitalization of $253.14 billion, a P/E ratio of 23.55, a PEG ratio of 3.54 and a beta of 0.58.
Coca-Cola (NYSE:KO – Get Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Coca-Cola had a return on equity of 42.44% and a net margin of 23.92%. The firm had revenue of $11.95 billion during the quarter, compared to analyst estimates of $11.45 billion. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.68 EPS for the current year.
Coca-Cola Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, November 30th. Coca-Cola’s dividend payout ratio is 73.90%.
Insider Activity at Coca-Cola
In related news, CEO James Quincey sold 92,029 shares of Coca-Cola stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $53.86, for a total transaction of $4,956,681.94. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $23,835,527.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO James Quincey sold 92,029 shares of Coca-Cola stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $53.86, for a total transaction of $4,956,681.94. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $23,835,527.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Beatriz R. Perez sold 20,534 shares of Coca-Cola stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $56.12, for a total value of $1,152,368.08. Following the sale, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,046,653.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 349,316 shares of company stock valued at $19,716,506. Company insiders own 1.00% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently commented on the company. Morgan Stanley decreased their price target on Coca-Cola from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. Bank of America decreased their target price on Coca-Cola from $74.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Barclays decreased their target price on Coca-Cola from $70.00 to $59.00 and set an “overweight” rating for the company in a research report on Thursday, October 12th. Citigroup decreased their target price on Coca-Cola from $74.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, October 11th. Finally, Jefferies Financial Group began coverage on Coca-Cola in a research report on Monday, November 13th. They issued a “hold” rating and a $64.00 target price for the company. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.20.
Check Out Our Latest Analysis on KO
Coca-Cola Profile (Free Report)
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.
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