The Coca-Cola Company (NYSE:KO) Shares Bought by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,992 shares of the company’s stock after buying an additional 573 shares during the period. EverSource Wealth Advisors LLC’s holdings in Coca-Cola were worth $867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. New Millennium Group LLC purchased a new position in Coca-Cola during the 2nd quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola in the first quarter valued at about $28,000. ESL Trust Services LLC acquired a new stake in Coca-Cola in the first quarter valued at about $28,000. DiNuzzo Private Wealth Inc. increased its position in 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 purchased a new position in shares of Coca-Cola during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.1 %

Shares of NYSE KO opened at $71.71 on Tuesday. The firm has a market cap of $308.92 billion, a P/E ratio of 28.68, 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 1 year low of $51.55 and a 1 year high of $73.53. The firm’s 50 day moving average price is $69.30 and its 200 day moving average price is $64.46.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data 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 business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid 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 is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Transactions at Coca-Cola

In related news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock worth $579,704,927 in the last three months. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Cfra restated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. BNP Paribas started coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. Bank of America boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Barclays raised their price objective on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

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.