Verity & Verity LLC Has $2.54 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Verity & Verity LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,948 shares of the company’s stock after selling 791 shares during the quarter. Verity & Verity LLC’s holdings in Coca-Cola were worth $2,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. New Millennium Group LLC bought a new stake in shares of Coca-Cola during the second quarter worth approximately $26,000. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter worth $27,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola during the 1st quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola in the 1st quarter valued at $28,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in shares of Coca-Cola by 65.0% in 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 last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the 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 completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the company’s 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 transaction, 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 SEC, which is accessible through this link. Also, 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 transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 974,715 shares of company stock worth $579,704,927. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on KO. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Truist Financial increased their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Barclays boosted their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $71.07.

Coca-Cola Stock Down 0.2 %

NYSE KO opened at $71.73 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The company has a market cap of $309.01 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 3.97 and a beta of 0.60. The company has a 50 day moving average of $70.10 and a 200-day moving average of $64.94. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $11.78 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. 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.