ProShare Advisors LLC Purchases 75,186 Shares of The Coca-Cola Company (NYSE:KO)

ProShare Advisors LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 2.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,558,545 shares of the company’s stock after acquiring an additional 75,186 shares during the period. Coca-Cola comprises about 0.6% of ProShare Advisors LLC’s portfolio, making the stock its 27th biggest position. ProShare Advisors LLC owned about 0.08% of Coca-Cola worth $226,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KO. Gilbert & Cook Inc. grew 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 valued at $941,000 after buying an additional 841 shares during the last quarter. Accretive Wealth Partners LLC grew 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 valued at $1,523,000 after buying an additional 351 shares during the last quarter. Aveo Capital Partners LLC grew 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 valued at $572,000 after buying an additional 1,182 shares during the last quarter. Gryphon Financial Partners LLC grew 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 valued at $1,034,000 after buying an additional 7,521 shares during the last quarter. Finally, Tidemark LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $26,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the 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. Over the last three months, insiders sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on KO shares. Truist Financial upped their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their target price on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Citigroup upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Bank of America upped their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada upped 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. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $71.64 on Friday. The company 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 Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The business has a 50 day moving average price of $69.13 and a 200-day moving average price of $64.34. 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) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. Equities analysts anticipate 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 given 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%.

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.