Commonwealth Financial Services LLC Has $809,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Commonwealth Financial Services LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,852 shares of the company’s stock after purchasing an additional 250 shares during the period. Commonwealth Financial Services LLC’s holdings in Coca-Cola were worth $809,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in Coca-Cola by 21.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Vontobel Asset Management Inc. boosted its stake in shares of Coca-Cola by 2.7% during the 4th quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock worth $890,866,000 after acquiring an additional 378,447 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Coca-Cola by 30.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after acquiring an additional 2,964,850 shares during the last quarter. Putnam Investments LLC raised its stake in Coca-Cola by 32.8% in the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after acquiring an additional 2,973,234 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Coca-Cola by 15.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company’s stock valued at $638,344,000 after purchasing an additional 1,417,930 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Truist Financial upped their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. BNP Paribas initiated coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Stock Performance

NYSE:KO opened at $71.64 on Monday. The company has a market cap 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 Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a fifty day moving average price of $69.13 and a 200-day moving average price of $64.37.

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, topping 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 analysts’ expectations of $11.78 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. Coca-Cola’s revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.71%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total value of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $30,987,070.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the firm’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 completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 over the last three months. Corporate insiders own 0.97% of the company’s stock.

About Coca-Cola

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.