Brown Financial Advisors Purchases New Holdings in The Coca-Cola Company (NYSE:KO)

Brown Financial Advisors acquired a new position in The Coca-Cola Company (NYSE:KO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,157 shares of the company’s stock, valued at approximately $1,601,000.

Several other large investors have also modified their holdings of the business. Elwood & Goetz Wealth Advisory Group LLC raised its holdings in Coca-Cola by 2.2% in the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after buying an additional 149 shares during the period. Drive Wealth Management LLC raised its position in Coca-Cola by 1.6% in the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after purchasing an additional 151 shares during the period. Capital Advisors Ltd. LLC lifted its stake in Coca-Cola by 4.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after acquiring an additional 153 shares in the last quarter. Liberty Capital Management Inc. lifted its holdings in Coca-Cola by 3.7% during the 2nd quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock worth $275,000 after buying an additional 155 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its position in Coca-Cola by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock valued at $2,699,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KO shares. Bank of America lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Truist Financial raised their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley raised their price target on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Finally, BNP Paribas began coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.07.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total value of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The disclosure for this sale can be found here. In the last three months, insiders sold 974,715 shares of company stock valued at $579,704,927. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock opened at $71.73 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The business has a 50 day simple moving average of $70.10 and a 200-day simple moving average of $64.94. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $73.53. The stock has a market capitalization of $309.01 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter last year, the business earned $0.78 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Equities analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s dividend payout ratio is presently 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.