Benjamin F. Edwards & Company Inc. Boosts Position in The Coca-Cola Company (NYSE:KO)

Benjamin F. Edwards & Company Inc. increased its position in shares of The Coca-Cola Company (NYSE:KO) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,303 shares of the company’s stock after purchasing an additional 3,264 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Coca-Cola were worth $4,729,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Elwood & Goetz Wealth Advisory Group LLC lifted its stake in shares of Coca-Cola by 2.2% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after acquiring an additional 149 shares in the last quarter. Drive Wealth Management LLC raised its position in shares of Coca-Cola by 1.6% in the 2nd quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after purchasing an additional 151 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Coca-Cola by 4.4% during the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after buying an additional 153 shares in the last quarter. Liberty Capital Management Inc. increased its stake in shares of Coca-Cola by 3.7% in the second quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock worth $275,000 after buying an additional 155 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV raised its holdings in Coca-Cola by 0.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock valued at $2,699,000 after acquiring an additional 160 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

KO opened at $71.64 on Friday. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53. 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 business’s 50 day moving average is $69.13 and its 200-day moving average is $64.34. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

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, topping 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 company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KO shares. Morgan Stanley boosted their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Citigroup increased their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. TD Cowen boosted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. 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 report on Wednesday, July 10th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were 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 $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. In the last three months, insiders sold 974,715 shares of company stock valued at $579,704,927. Company insiders own 0.97% of the company’s stock.

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.