Certified Advisory Corp Boosts Stake in The Coca-Cola Company (NYSE:KO)

Certified Advisory Corp lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,965 shares of the company’s stock after purchasing an additional 173 shares during the quarter. Certified Advisory Corp’s holdings in Coca-Cola were worth $2,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New Millennium Group LLC purchased a new position in Coca-Cola during the second quarter worth about $26,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola in the 1st quarter valued at approximately $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola in the 1st quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the period. Finally, Mount Lucas Management LP acquired a new stake in Coca-Cola in the 2nd quarter valued at approximately $38,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on KO. Truist Financial upped their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Barclays increased their target price on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley raised their target price on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Finally, Cfra reissued a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 over the last 90 days. 0.97% of the stock is owned by insiders.

Coca-Cola Trading Up 1.4 %

NYSE KO opened at $71.64 on Monday. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The firm has a 50 day moving average of $69.13 and a two-hundred day moving average of $64.37. The stock 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 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 posted its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. As a group, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

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

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.