Axiom Advisory LLC Has $2.91 Million Holdings in The Coca-Cola Company (NYSE:KO)

Axiom Advisory LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 42,432 shares of the company’s stock after acquiring an additional 694 shares during the period. Axiom Advisory LLC’s holdings in Coca-Cola were worth $2,906,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. New Millennium Group LLC bought a new position in shares of Coca-Cola in the second quarter valued at approximately $26,000. Quarry LP bought a new position in Coca-Cola in the 2nd quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola during the 1st quarter worth $28,000. ESL Trust Services LLC bought a new stake in Coca-Cola during the first quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. grew its position in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on KO. BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Citigroup raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Morgan Stanley upped their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.07.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $69.01 on Tuesday. 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 business’s fifty day moving average price is $70.35 and its two-hundred day moving average price is $65.15. The Coca-Cola Company has a fifty-two week low of $52.11 and a fifty-two week high of $73.53. The stock has a market capitalization of $297.29 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its earnings results 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. The business had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm’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. As a group, analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.485 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.81%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 of the company’s stock, valued at approximately $30,987,070.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Insiders sold 376,096 shares of company stock worth $25,982,352 in the last quarter. Insiders own 0.97% of the company’s stock.

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.