Loomis Sayles & Co. L P Buys 655,305 Shares of The Coca-Cola Company (NYSE:KO)

Loomis Sayles & Co. L P grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 314.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 863,670 shares of the company’s stock after acquiring an additional 655,305 shares during the period. Loomis Sayles & Co. L P’s holdings in The Coca-Cola were worth $45,524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. OLD Mission Capital LLC bought a new stake in shares of The Coca-Cola in the third quarter worth $244,000. Sage Mountain Advisors LLC bought a new stake in shares of The Coca-Cola in the fourth quarter worth $279,000. First Interstate Bank bought a new stake in shares of The Coca-Cola in the fourth quarter worth $231,000. Los Angeles Capital Management LLC grew its stake in shares of The Coca-Cola by 2.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,961,705 shares of the company’s stock worth $162,420,000 after purchasing an additional 75,977 shares during the last quarter. Finally, FIL Ltd grew its stake in shares of The Coca-Cola by 66.4% in the fourth quarter. FIL Ltd now owns 3,413,548 shares of the company’s stock worth $187,200,000 after purchasing an additional 1,361,937 shares during the last quarter. 66.21% of the stock is currently owned by hedge funds and other institutional investors.

In other The Coca-Cola news, CEO James Quincey sold 110,000 shares of the stock in a transaction that occurred on Friday, April 23rd. The shares were sold at an average price of $54.48, for a total value of $5,992,800.00. Following the sale, the chief executive officer now directly owns 266,718 shares in the company, valued at approximately $14,530,796.64. 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 that occurred on 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 owns 196,745 shares in the company, valued at $11,116,092.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,303 shares of company stock valued at $10,213,630. 1.01% of the stock is owned by insiders.

Shares of KO stock opened at $56.55 on Thursday. The Coca-Cola Company has a 52-week low of $46.22 and a 52-week high of $57.56. The company has a quick ratio of 1.13, a current ratio of 1.33 and a debt-to-equity ratio of 1.80. The stock has a 50-day moving average price of $54.97. The company has a market cap of $243.83 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 3.35 and a beta of 0.61.

The Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, July 21st. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.12. The firm had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $9.30 billion. The Coca-Cola had a net margin of 21.59% and a return on equity of 41.48%. The company’s revenue was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. As a group, research analysts predict that The Coca-Cola Company will post 2.19 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Tuesday, September 14th. The Coca-Cola’s dividend payout ratio (DPR) is presently 86.15%.

Several brokerages recently weighed in on KO. Credit Suisse Group boosted their price objective on shares of The Coca-Cola from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley upped their price target on shares of The Coca-Cola from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, June 4th. Royal Bank of Canada reaffirmed a “buy” rating and set a $60.00 price target on shares of The Coca-Cola in a research report on Wednesday, June 23rd. Evercore ISI upped their price target on shares of The Coca-Cola from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday, April 20th. Finally, Citigroup upped their price target 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. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $59.93.

The Coca-Cola Company 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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