Gryphon Financial Partners LLC Boosts Position in The Coca-Cola Company (NYSE:KO)

Gryphon Financial Partners LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,614 shares of the company’s stock after purchasing an additional 628 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Coca-Cola were worth $1,057,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KO. Gilbert & Cook Inc. lifted its stake in Coca-Cola by 5.6% during the fourth quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock worth $941,000 after purchasing an additional 841 shares during the last quarter. Accretive Wealth Partners LLC increased its position in Coca-Cola by 1.4% during the fourth quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock worth $1,523,000 after buying an additional 351 shares during the period. Aveo Capital Partners LLC increased its position in Coca-Cola by 13.9% during the fourth quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock worth $572,000 after buying an additional 1,182 shares during the period. Avantax Advisory Services Inc. increased its position in Coca-Cola by 7.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 223,758 shares of the company’s stock worth $13,186,000 after buying an additional 15,565 shares during the period. Finally, Partnership Wealth Management LLC acquired a new position in Coca-Cola during the fourth quarter worth approximately $250,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.1 %

Shares of KO stock opened at $71.75 on Tuesday. The business’s fifty day moving average price is $67.65 and its 200 day moving average price is $63.65. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53. The firm has a market capitalization of $309.23 billion, a PE ratio of 28.75, a P/E/G ratio of 3.94 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 earnings per share. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. Coca-Cola’s payout ratio is 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the company’s 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 completion of the sale, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,055,606 shares of company stock worth $584,747,672. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on KO. Morgan Stanley lifted their price target on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Truist Financial lifted their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. TD Cowen boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, Citigroup boosted their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

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.