Resonant Capital Advisors LLC Buys 1,252 Shares of The Coca-Cola Company (NYSE:KO)

Resonant Capital Advisors LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 22.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,917 shares of the company’s stock after purchasing an additional 1,252 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Coca-Cola were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of KO. United Asset Strategies Inc. lifted its position in shares of Coca-Cola by 0.8% in the 2nd quarter. United Asset Strategies Inc. now owns 36,689 shares of the company’s stock worth $2,335,000 after acquiring an additional 302 shares during the period. PrairieView Partners LLC lifted its position in Coca-Cola by 102.7% in the second quarter. PrairieView Partners LLC now owns 823 shares of the company’s stock worth $52,000 after purchasing an additional 417 shares during the period. Crestwood Advisors Group LLC lifted its position in Coca-Cola by 0.4% in the second quarter. Crestwood Advisors Group LLC now owns 130,461 shares of the company’s stock worth $8,304,000 after purchasing an additional 530 shares during the period. Natixis Advisors LLC increased its holdings in Coca-Cola by 13.3% in the 2nd quarter. Natixis Advisors LLC now owns 2,532,375 shares of the company’s stock valued at $161,186,000 after buying an additional 297,847 shares during the period. Finally, Arlington Partners LLC raised its stake in shares of Coca-Cola by 2.7% in the 2nd quarter. Arlington Partners LLC now owns 50,956 shares of the company’s stock valued at $3,243,000 after buying an additional 1,360 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The disclosure for this sale can be found here. Insiders have sold 1,074,910 shares of company stock worth $585,972,318 in the last three months. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.6 %

Shares of KO opened at $72.47 on Tuesday. The firm has a market capitalization of $312.20 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 4.05 and a beta of 0.59. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $72.57. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The business’s fifty day moving average price is $66.83 and its two-hundred day moving average price is $63.25.

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 the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the previous year, the business posted $0.78 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm 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. This represents a $1.94 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Analyst Ratings Changes

A number of analysts recently weighed in on KO shares. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Morgan Stanley raised their target price on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. BNP Paribas started coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Citigroup boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Barclays increased their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.73.

About Coca-Cola

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.