Intrepid Financial Planning Group LLC Purchases New Stake in The Coca-Cola Company (NYSE:KO)

Intrepid Financial Planning Group LLC bought a new stake in shares of The Coca-Cola Company (NYSE:KO) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,162 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Focus Financial Network Inc. ADV bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $3,255,000. Swedbank AB acquired a new position in shares of Coca-Cola during the first quarter valued at $102,604,000. Angeles Investment Advisors LLC boosted its holdings in shares of Coca-Cola by 2.4% during the fourth quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock valued at $932,000 after acquiring an additional 374 shares during the period. Wealth Quarterback LLC grew its position in shares of Coca-Cola by 3.2% during the fourth quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock worth $1,029,000 after acquiring an additional 537 shares during the last quarter. Finally, BDF Gestion acquired a new stake in shares of Coca-Cola in the 2nd quarter worth about $7,421,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.1 %

KO stock opened at $71.76 on Thursday. 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 firm has a market cap of $309.14 billion, a PE ratio of 28.70, a P/E/G ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $73.53. The firm has a 50 day simple moving average of $68.83 and a 200 day simple moving average of $64.18.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 EPS. Equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.70%. Coca-Cola’s payout ratio is presently 77.60%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Argus upped their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. TD Cowen lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays lifted their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Truist Financial increased their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola 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 transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was 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 $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on 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 transaction, the executive vice president now 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 ninety days, insiders sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is currently owned by corporate insiders.

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.