Bontempo Ohly Capital Mgmt LLC Grows Position in The Coca-Cola Company (NYSE:KO)

Bontempo Ohly Capital Mgmt LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,878 shares of the company’s stock after acquiring an additional 930 shares during the period. Coca-Cola makes up 2.2% of Bontempo Ohly Capital Mgmt LLC’s portfolio, making the stock its 6th biggest position. Bontempo Ohly Capital Mgmt LLC’s holdings in Coca-Cola were worth $4,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. New Millennium Group LLC bought a new position in Coca-Cola in the 2nd quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola during the first quarter valued at $28,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola during the first quarter valued at $28,000. DiNuzzo Private Wealth Inc. increased its holdings in Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after buying an additional 206 shares in the last quarter. Finally, Mount Lucas Management LP purchased a new position in Coca-Cola in the 2nd quarter worth about $38,000. 70.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The disclosure for this sale can be found here. Insiders sold 974,715 shares of company stock worth $579,704,927 in the last three months. 0.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KO. BNP Paribas initiated coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. Bank of America lifted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company upped their price objective on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Barclays raised their target price on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Coca-Cola Stock Performance

KO opened at $71.79 on Friday. The company has a 50 day simple moving average of $69.82 and a two-hundred day simple moving average of $64.75. 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 $309.27 billion, a P/E ratio of 28.72, a PEG ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. 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 prior year, the business posted $0.78 EPS. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities 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 declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued 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 2.70%. Coca-Cola’s dividend payout ratio is presently 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.