Studio Investment Management LLC Has $78,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Studio Investment Management LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 18.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,206 shares of the company’s stock after purchasing an additional 191 shares during the period. Studio Investment Management LLC’s holdings in Coca-Cola were worth $78,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Vaughan David Investments LLC IL raised its holdings in shares of Coca-Cola by 0.5% in the 2nd quarter. Vaughan David Investments LLC IL now owns 630,123 shares of the company’s stock valued at $40,107,000 after purchasing an additional 2,912 shares during the period. Angeles Wealth Management LLC lifted its position in shares of Coca-Cola by 18.0% in the second quarter. Angeles Wealth Management LLC now owns 13,159 shares of the company’s stock valued at $838,000 after buying an additional 2,010 shares during the last quarter. Carson Advisory Inc. boosted its stake in shares of Coca-Cola by 5.3% during the 2nd quarter. Carson Advisory Inc. now owns 26,204 shares of the company’s stock worth $1,668,000 after acquiring an additional 1,321 shares during the period. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Coca-Cola by 1.3% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 216,314 shares of the company’s stock worth $13,768,000 after acquiring an additional 2,810 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in Coca-Cola by 2.5% in the 2nd quarter. Coldstream Capital Management Inc. now owns 116,956 shares of the company’s stock valued at $7,444,000 after acquiring an additional 2,819 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated 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 transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 transaction of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders have sold a total of 1,055,606 shares of company stock worth $584,747,672 over the last 90 days. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

KO stock opened at $71.06 on Thursday. The company’s 50-day moving average price is $67.97 and its two-hundred day moving average price is $63.78. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $73.53. 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 firm has a market cap of $306.10 billion, a P/E ratio of 28.42, a P/E/G ratio of 3.94 and a beta of 0.60.

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

Coca-Cola Announces Dividend

The firm also recently disclosed 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 yield of 2.73%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial upped their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Bank of America lifted their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Argus increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price 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.