IFG Advisory LLC raised its stake in The Coca-Cola Co (NYSE:KO) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,207 shares of the company’s stock after buying an additional 1,803 shares during the quarter. IFG Advisory LLC’s holdings in The Coca-Cola were worth $2,811,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Arbor Wealth Management LLC increased its holdings in shares of The Coca-Cola by 13.2% in the second quarter. Arbor Wealth Management LLC now owns 1,706 shares of the company’s stock worth $87,000 after acquiring an additional 199 shares in the last quarter. Investment Partners LTD. increased its holdings in shares of The Coca-Cola by 1.0% in the second quarter. Investment Partners LTD. now owns 20,577 shares of the company’s stock worth $1,048,000 after acquiring an additional 202 shares in the last quarter. Centerpoint Advisors LLC increased its holdings in shares of The Coca-Cola by 13.3% in the second quarter. Centerpoint Advisors LLC now owns 1,734 shares of the company’s stock worth $88,000 after acquiring an additional 203 shares in the last quarter. Paulson Wealth Management Inc. increased its holdings in shares of The Coca-Cola by 3.2% in the first quarter. Paulson Wealth Management Inc. now owns 6,622 shares of the company’s stock worth $310,000 after acquiring an additional 208 shares in the last quarter. Finally, Essex Financial Services Inc. increased its holdings in shares of The Coca-Cola by 1.1% in the second quarter. Essex Financial Services Inc. now owns 19,356 shares of the company’s stock worth $986,000 after acquiring an additional 213 shares in the last quarter. 66.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:KO traded down $0.60 during mid-day trading on Friday, reaching $53.89. 2,524,312 shares of the stock were exchanged, compared to its average volume of 13,598,651. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44. The company has a market cap of $230.39 billion, a P/E ratio of 25.91, a P/E/G ratio of 3.75 and a beta of 0.48. The Coca-Cola Co has a one year low of $44.25 and a one year high of $54.82. The stock’s 50 day simple moving average is $52.90 and its 200-day simple moving average is $49.28.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a return on equity of 45.67% and a net margin of 21.11%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. Analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.97%. The Coca-Cola’s dividend payout ratio is 76.92%.
Several brokerages have issued reports on KO. Royal Bank of Canada restated a “buy” rating and issued a $60.00 price target on shares of The Coca-Cola in a report on Wednesday, July 24th. Morgan Stanley reiterated a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a report on Wednesday, July 31st. ValuEngine upgraded The Coca-Cola from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. BMO Capital Markets increased their price objective on The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a report on Wednesday, July 24th. Finally, Credit Suisse Group increased their price objective on The Coca-Cola from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $54.10.
In other The Coca-Cola news, SVP Nancy Quan sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $54.43, for a total value of $1,306,320.00. Following the completion of the transaction, the senior vice president now directly owns 189,049 shares in the company, valued at $10,289,937.07. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John Murphy sold 84,400 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $49.99, for a total value of $4,219,156.00. Following the completion of the transaction, the vice president now owns 133,715 shares of the company’s stock, valued at $6,684,412.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 488,761 shares of company stock valued at $25,417,705. Corporate insiders own 1.33% of the company’s stock.
The Coca-Cola Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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