Hexagon Capital Partners LLC Raises Stake in The Coca-Cola Company (NYSE:KO)

Hexagon Capital Partners LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,865 shares of the company’s stock after purchasing an additional 208 shares during the period. Hexagon Capital Partners LLC’s holdings in Coca-Cola were worth $1,212,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC increased its position in shares of Coca-Cola by 9.4% during the third quarter. CWM LLC now owns 434,719 shares of the company’s stock worth $31,239,000 after acquiring an additional 37,483 shares during the period. Peddock Capital Advisors LLC increased its holdings in Coca-Cola by 0.5% during the 3rd quarter. Peddock Capital Advisors LLC now owns 32,437 shares of the company’s stock worth $2,331,000 after purchasing an additional 159 shares during the period. Tilia Fiduciary Partners Inc. bought a new stake in Coca-Cola during the 3rd quarter valued at $201,000. First PREMIER Bank lifted its holdings in shares of Coca-Cola by 1.3% in the 3rd quarter. First PREMIER Bank now owns 47,262 shares of the company’s stock worth $3,395,000 after buying an additional 624 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Coca-Cola during the 3rd quarter worth $338,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of a number of research reports. Bank of America upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. TD Cowen increased their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $71.07.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total value of $1,253,987.84. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,507,516.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Nancy Quan sold 19,304 shares of the company’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 transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $69.56 on Thursday. 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 Coca-Cola Company has a twelve month low of $52.43 and a twelve month high of $73.53. The company’s 50 day moving average is $70.43 and its 200 day moving average is $65.27. The company has a market cap of $299.66 billion, a PE ratio of 27.82, 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 (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 earnings per share. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 2.79%. The ex-dividend date of this dividend was Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 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.