Brighton Jones LLC Increases Position in The Coca-Cola Company (NYSE:KO)

Brighton Jones LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,109 shares of the company’s stock after acquiring an additional 631 shares during the quarter. Brighton Jones LLC’s holdings in Coca-Cola were worth $2,298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gilbert & Cook Inc. boosted its position in shares of Coca-Cola by 5.6% in the 4th quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock worth $941,000 after purchasing an additional 841 shares in the last quarter. Accretive Wealth Partners LLC boosted its position in shares of Coca-Cola by 1.4% in the 4th quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock worth $1,523,000 after purchasing an additional 351 shares in the last quarter. Aveo Capital Partners LLC boosted its position in shares of Coca-Cola by 13.9% in the 4th quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock worth $572,000 after purchasing an additional 1,182 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in shares of Coca-Cola by 72.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 17,973 shares of the company’s stock worth $1,034,000 after purchasing an additional 7,521 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Coca-Cola by 12.9% in the 4th quarter. Assetmark Inc. now owns 94,032 shares of the company’s stock worth $5,541,000 after purchasing an additional 10,727 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $71.62 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53. The business has a 50-day moving average price of $69.13 and a 200 day moving average price of $64.31. The firm has a market cap of $308.54 billion, a PE ratio of 28.65, a P/E/G ratio of 3.93 and a beta of 0.60.

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

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 2.71%. Coca-Cola’s dividend payout ratio is presently 77.60%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KO shares. Truist Financial raised their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America lifted their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. TD Cowen lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.07.

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.