Dana Investment Advisors Inc. Sells 1,654 Shares of The Coca-Cola Company (NYSE:KO)

Dana Investment Advisors Inc. decreased its stake in The Coca-Cola Company (NYSE:KO) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,101 shares of the company’s stock after selling 1,654 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Coca-Cola were worth $7,326,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. New Millennium Group LLC purchased a new position in shares of Coca-Cola during the 2nd quarter valued at $26,000. Quarry LP purchased a new position in shares of Coca-Cola in the second quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola in the first quarter valued at about $28,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the first quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. grew its position in shares of Coca-Cola by 65.0% during the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $71.73 on Wednesday. The firm’s 50 day simple moving average is $70.10 and its 200-day simple moving average is $64.94. 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 one year low of $51.55 and a one year high of $73.53. The firm has a market cap 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 issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share 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 business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period in the previous year, the company posted $0.78 EPS. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued 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 was Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were 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 owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nancy Quan sold 18,484 shares of the firm’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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. In the last quarter, insiders have sold 974,715 shares of company stock valued at $579,704,927. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on KO. Hsbc Global Res raised Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Bank of America boosted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. TD Cowen raised their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Finally, BNP Paribas initiated coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

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.