Brown Brothers Harriman & Co. Buys 5,903 Shares of The Coca-Cola Company (NYSE:KO)

Brown Brothers Harriman & Co. lifted its position in The Coca-Cola Company (NYSE:KO) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,513 shares of the company’s stock after buying an additional 5,903 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Coca-Cola were worth $13,336,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Focus Financial Network Inc. ADV bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $3,255,000. Swedbank AB bought a new position in Coca-Cola during the first quarter worth $102,604,000. Angeles Investment Advisors LLC increased its holdings 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 valued at $932,000 after purchasing an additional 374 shares during the last quarter. Wealth Quarterback LLC raised its position in shares of Coca-Cola by 3.2% in the fourth quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock valued at $1,029,000 after purchasing an additional 537 shares during the period. Finally, BDF Gestion acquired a new stake in shares of Coca-Cola during the 2nd quarter worth about $7,421,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Bank of America upped their price objective on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted 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. BNP Paribas assumed coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Finally, Truist Financial raised their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.73.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock worth $579,704,927 over the last ninety days. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 0.3 %

Shares of NYSE KO opened at $71.41 on Monday. 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 market cap of $307.63 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The company has a 50 day simple moving average of $68.28 and a 200 day simple moving average of $63.95.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.72%. Coca-Cola’s payout ratio is 77.60%.

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.