Magnolia Capital Advisors LLC Makes New $1.84 Million Investment in The Coca-Cola Company (NYSE:KO)

Magnolia Capital Advisors LLC purchased a new position in The Coca-Cola Company (NYSE:KO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 28,867 shares of the company’s stock, valued at approximately $1,837,000.

A number of other large investors also recently modified their holdings of the business. Creative Planning grew its position in Coca-Cola by 3.8% in the 2nd quarter. Creative Planning now owns 1,781,928 shares of the company’s stock valued at $113,420,000 after buying an additional 65,533 shares in the last quarter. Bontempo Ohly Capital Mgmt LLC boosted its holdings in shares of Coca-Cola by 1.4% in the second quarter. Bontempo Ohly Capital Mgmt LLC now owns 67,878 shares of the company’s stock valued at $4,320,000 after acquiring an additional 930 shares in the last quarter. Kathmere Capital Management LLC increased its stake in shares of Coca-Cola by 13.9% during the second quarter. Kathmere Capital Management LLC now owns 5,605 shares of the company’s stock valued at $357,000 after acquiring an additional 683 shares during the period. Texas Capital Bank Wealth Management Services Inc raised its holdings in Coca-Cola by 64.0% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 5,704 shares of the company’s stock worth $363,000 after purchasing an additional 2,226 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in Coca-Cola by 29.2% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 1,878 shares of the company’s stock worth $120,000 after purchasing an additional 425 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.5 %

NYSE:KO opened at $71.79 on Monday. The business’s fifty day moving average price is $69.82 and its 200 day moving average price is $64.77. The firm has a market capitalization of $309.27 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.97 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53.

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

Coca-Cola Dividend Announcement

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

Insider Activity

In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola 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 completion of the sale, 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 SEC, which is available through the SEC website. In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. 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. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial boosted their price objective on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Morgan Stanley upped their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. 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 for the company. Barclays boosted their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $71.07.

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.