Frank Rimerman Advisors LLC Acquires 35,540 Shares of The Coca-Cola Company (NYSE:KO)

Frank Rimerman Advisors LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 19,005.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,727 shares of the company’s stock after purchasing an additional 35,540 shares during the period. Frank Rimerman Advisors LLC’s holdings in Coca-Cola were worth $2,274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Focus Financial Network Inc. ADV bought a new position in Coca-Cola in the fourth quarter valued at about $3,255,000. Swedbank AB bought a new stake in shares of Coca-Cola during the 1st quarter valued at approximately $102,604,000. Angeles Investment Advisors LLC increased its position in Coca-Cola by 2.4% during the 4th quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock worth $932,000 after purchasing an additional 374 shares in the last quarter. Wealth Quarterback LLC lifted its stake in Coca-Cola by 3.2% in the 4th quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock valued at $1,029,000 after purchasing an additional 537 shares during the last quarter. Finally, BDF Gestion acquired a new stake in Coca-Cola in the second quarter valued at approximately $7,421,000. Institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,398,603.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coca-Cola 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 stock was 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 of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock valued at $579,704,927 in the last quarter. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.64 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 company has a market capitalization of $308.62 billion, a PE ratio of 28.66, a P/E/G ratio of 3.93 and a beta of 0.60. The firm has a fifty day simple moving average of $69.13 and a 200 day simple moving average of $64.34. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share 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 firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period last year, the company posted $0.78 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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

Analyst Upgrades and Downgrades

KO has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. TD Cowen upped their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Truist Financial lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Barclays lifted their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola 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.