William B. Walkup & Associates Inc. Takes $968,000 Position in The Coca-Cola Company (NYSE:KO)

William B. Walkup & Associates Inc. acquired a new position in The Coca-Cola Company (NYSE:KO) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 15,201 shares of the company’s stock, valued at approximately $968,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gilbert & Cook Inc. lifted its stake in Coca-Cola by 5.6% during 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 in the last quarter. Accretive Wealth Partners LLC grew its stake in Coca-Cola by 1.4% during the 4th quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock valued at $1,523,000 after acquiring an additional 351 shares in the last quarter. Aveo Capital Partners LLC lifted its position 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 worth $572,000 after purchasing an additional 1,182 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Coca-Cola by 15.2% during the fourth quarter. Jones Financial Companies Lllp now owns 31,101 shares of the company’s stock worth $1,833,000 after purchasing an additional 4,107 shares during the period. Finally, CWA Asset Management Group LLC grew its position in Coca-Cola by 97.3% during the fourth quarter. CWA Asset Management Group LLC now owns 15,548 shares of the company’s stock valued at $916,000 after purchasing an additional 7,666 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley lifted their price objective on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Truist Financial upped their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. 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. Finally, Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Trading Up 0.5 %

Shares of NYSE:KO opened at $71.79 on Monday. 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 stock’s 50-day moving average is $69.82 and its 200-day moving average is $64.77. The company has a market cap of $309.27 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.97 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.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.78 billion. During the same quarter last year, the firm posted $0.78 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola 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 owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $2,667,443.53. 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 ninety days. Company insiders own 0.97% of the company’s stock.

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.