New Century Financial Group LLC Buys 3,420 Shares of The Coca-Cola Company (NYSE:KO)

New Century Financial Group LLC raised its position in shares of The Coca-Cola Company (NYSE:KO) by 39.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,097 shares of the company’s stock after purchasing an additional 3,420 shares during the period. New Century Financial Group LLC’s holdings in Coca-Cola were worth $770,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. New Millennium Group LLC purchased a new stake in Coca-Cola in the 2nd quarter worth about $26,000. Quarry LP purchased a new position in shares of Coca-Cola in the second quarter worth about $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola in the first quarter valued at approximately $28,000. ESL Trust Services LLC purchased a new stake in shares of Coca-Cola during the 1st quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. boosted 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 during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the business’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 transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction 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 sale, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction 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 owns 223,330 shares of the company’s stock, valued at $14,507,516.80. 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 insiders.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $71.86 on Tuesday. The company’s fifty day moving average is $69.96 and its 200 day moving average is $64.85. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The stock has a market cap of $309.57 billion, a PE ratio of 28.74, a PEG ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its earnings results 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 return on equity of 43.62% and a net margin of 22.92%. The company 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 company posted $0.78 EPS. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently announced 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. This represents a $1.94 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. BNP Paribas initiated coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Bank of America boosted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, 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. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $71.07.

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.