Atomi Financial Group Inc. Buys 2,678 Shares of The Coca-Cola Company (NYSE:KO)

Atomi Financial Group Inc. increased its position in The Coca-Cola Company (NYSE:KO) by 11.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,522 shares of the company’s stock after buying an additional 2,678 shares during the period. Atomi Financial Group Inc.’s holdings in Coca-Cola were worth $1,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. New Millennium Group LLC purchased a new stake in Coca-Cola during the 2nd quarter valued at $26,000. Quarry LP purchased a new stake in shares of Coca-Cola in the second quarter valued at $27,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola in the 1st quarter worth about $28,000. Redmont Wealth Advisors LLC purchased a new position in shares of Coca-Cola during the 1st quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in Coca-Cola by 65.0% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.2 %

Shares of NYSE KO opened at $69.16 on Wednesday. The Coca-Cola Company has a 1-year low of $52.11 and a 1-year high of $73.53. The business has a fifty day moving average price of $70.40 and a 200 day moving average price of $65.21. The stock has a market capitalization of $297.94 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating 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 business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analyst Ratings Changes

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

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,507,516.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,507,516.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares in the company, valued at $5,074,330.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 376,096 shares of company stock valued at $25,982,352. Corporate 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.