Fairscale Capital LLC Invests $506,000 in The Coca-Cola Company (NYSE:KO)

Fairscale Capital LLC purchased a new stake in The Coca-Cola Company (NYSE:KO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,870 shares of the company’s stock, valued at approximately $506,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Tidemark LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at about $26,000. New Millennium Group LLC acquired a new stake in Coca-Cola in the second quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the 1st quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the 1st quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its holdings 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 valued at $32,000 after buying an additional 206 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KO. TD Cowen increased their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their price target 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, Morgan Stanley raised their price objective on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.07.

Insider Activity

In other news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO James Quincey sold 42,397 shares of Coca-Cola stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock valued at $579,704,927 over the last quarter. Company insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 1.4 %

Shares of KO stock opened at $71.64 on Friday. The company has a market capitalization of $308.62 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 3.93 and a beta of 0.60. 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 firm has a 50-day moving average price of $69.13 and a 200 day moving average price of $64.34. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data 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 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 quarter in the previous year, the business posted $0.78 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 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.