Edge Capital Group LLC Has $26.92 Million Stake in The Coca-Cola Company (NYSE:KO)

Edge Capital Group LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,976 shares of the company’s stock after buying an additional 5,801 shares during the quarter. Coca-Cola comprises approximately 1.3% of Edge Capital Group LLC’s investment portfolio, making the stock its 15th biggest position. Edge Capital Group LLC’s holdings in Coca-Cola were worth $26,922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Coca-Cola by 4.6% in the second quarter. EverSource Wealth Advisors LLC now owns 12,992 shares of the company’s stock valued at $867,000 after acquiring an additional 573 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of Coca-Cola in the 2nd quarter valued at $506,000. Itau Unibanco Holding S.A. increased its stake in shares of Coca-Cola by 47.3% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 32,672 shares of the company’s stock valued at $2,288,000 after purchasing an additional 10,488 shares during the last quarter. Fidelis Capital Partners LLC raised its holdings in shares of Coca-Cola by 15.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 35,146 shares of the company’s stock worth $2,406,000 after buying an additional 4,645 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its position in shares of Coca-Cola by 19,005.3% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 35,727 shares of the company’s stock worth $2,274,000 after buying an additional 35,540 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the sale, the insider now 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction 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 of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Over the last three months, insiders have sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Citigroup lifted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Barclays boosted their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley increased their price target on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Stock Up 1.4 %

Coca-Cola stock opened at $71.64 on Friday. The firm has a 50 day moving average price of $69.13 and a two-hundred day moving average price of $64.34. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53. The firm has a market cap of $308.62 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 3.93 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its 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. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 earnings per share. Equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

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

About Coca-Cola

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.