Certified Advisory Corp Increases Stake in The Coca-Cola Company (NYSE:KO)

Certified Advisory Corp boosted its holdings in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,965 shares of the company’s stock after purchasing an additional 173 shares during the quarter. Certified Advisory Corp’s holdings in Coca-Cola were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have recently modified their holdings of the company. New Millennium Group LLC purchased a new position in The Coca-Cola in the second quarter valued at about $26,000. ESL Trust Services LLC purchased a new stake in shares of The Coca-Cola in the first quarter valued at approximately $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of The Coca-Cola in the first quarter worth about $28,000. DiNuzzo Private Wealth Inc. boosted its position in shares of The Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares during the period. Finally, Mount Lucas Management LP purchased a new stake in The Coca-Cola in the second quarter valued at about $38,000. 70.26% of the shares are owned by institutional investors and hedge funds.

The Wall Street analyst weighs in

A number of research firms have commented on KO. Truist Financial upped their target price on The Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Barclays upped their target price on The Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley boosted their target price on The Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft upped their target price on shares of The Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Cfra reissued a “hold” rating on shares of The Coca-Cola in a research note on Thursday, September 5th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $71.07, based on data from MarketBeat.com.

Get the latest report on Coca-Cola

Insider buying and selling

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated 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 in the company, valued at $30,987,070.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock worth $579,704,927 over the last 90 days. 0.97% of shares are held by insiders.

Coca-Cola trading up 1.4%

NYSE KO opened at $71.64 on Monday. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53. The firm has a 50 day moving average of $69.13 and a two hundred day moving average of $64.37. The stock has a market cap of $308.62 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The company has a quick ratio of 0.92, a current ratio of 1.08, and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO – Get Free Report ) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $0.78 per share. As a group, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola announces dividends

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.485 per share. This represents an annualized dividend of $1.94 and a dividend yield of 2.71%. The ex-dividend date is Friday, September 13. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Coca-Cola Company Profile

(Free Report)

The Coca-Cola Company, a beverage company, manufactures, markets and sells various non-alcoholic beverages worldwide. The company offers sparkling soft drinks, sparkling flavors; water, sports, coffee and tea; juices, value-added dairy and plant-based beverages; and other drinks. It also offers beverage concentrates and syrups, as well as fountain syrups for retailers such as restaurants and department stores.

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