Invst LLC Increases Holdings in The Coca-Cola Company (NYSE:KO)

Invst LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,324 shares of the company’s stock after buying an additional 1,645 shares during the quarter. Invst LLC’s holdings in Coca-Cola were worth $2,109,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KO. Elwood & Goetz Wealth Advisory Group LLC increased its stake in Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares in the last quarter. Drive Wealth Management LLC increased its position in shares of Coca-Cola by 1.6% during the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after acquiring an additional 151 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Coca-Cola by 4.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after acquiring an additional 153 shares during the last quarter. Liberty Capital Management Inc. boosted its stake in Coca-Cola by 3.7% during the 2nd quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after purchasing an additional 155 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV increased its holdings in shares of Coca-Cola by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock worth $2,699,000 after purchasing an additional 160 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

Coca-Cola stock opened at $71.79 on Monday. 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 stock has a market capitalization of $309.27 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53. The company’s fifty day moving average price is $69.82 and its 200 day moving average price is $64.77.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating 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 the consensus estimate of $11.78 billion. During the same period in the prior year, the company earned $0.78 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share 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. Investors of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on KO shares. Morgan Stanley upped their price target on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. BNP Paribas began coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective on the stock. Finally, TD Cowen boosted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $71.07.

Insiders Place Their Bets

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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction that occurred on 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 owns 223,330 shares in the company, valued at $15,968,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock worth $579,704,927 in the last ninety days. 0.97% of the stock is owned by corporate insiders.

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.