Summit Trail Advisors LLC Purchases 629 Shares of The Coca-Cola Company (NYSE:KO)

Summit Trail Advisors LLC raised its position in shares of The Coca-Cola Company (NYSE:KO) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,816 shares of the company’s stock after acquiring an additional 629 shares during the period. Summit Trail Advisors LLC’s holdings in Coca-Cola were worth $1,399,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Gilbert & Cook Inc. boosted its stake in shares of Coca-Cola by 5.6% in the fourth 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 period. Accretive Wealth Partners LLC boosted its stake in shares of Coca-Cola by 1.4% in the fourth 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 period. Aveo Capital Partners LLC boosted its stake in shares of Coca-Cola by 13.9% in the fourth 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 period. Gryphon Financial Partners LLC boosted its stake in shares of Coca-Cola by 72.0% in the fourth 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 period. Finally, Tidemark LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $26,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.4 %

Shares of NYSE:KO opened at $71.64 on Friday. The company has a fifty day moving average of $69.13 and a 200-day moving average of $64.34. The company has a market capitalization 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 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.

Coca-Cola (NYSE:KO) last announced 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. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. On average, equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 77.60%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KO shares. Bank of America boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. TD Cowen boosted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Citigroup boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Barclays boosted their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Insider Activity at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction 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 directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, 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 transaction of $2,667,443.53. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the company’s 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 sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock worth $579,704,927 over the last three months. Company insiders own 0.97% of the company’s stock.

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.