Commonwealth Financial Services LLC Has $809,000 Stock Holdings in The Coca-Cola Company (NYSE:KO)

Commonwealth Financial Services LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,852 shares of the company’s stock after purchasing an additional 250 shares during the period. Commonwealth Financial Services LLC’s holdings in Coca-Cola were worth $809,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Focus Financial Network Inc. ADV bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $3,255,000. Swedbank AB acquired a new position in shares of Coca-Cola in the first quarter worth approximately $102,604,000. Angeles Investment Advisors LLC boosted its holdings in Coca-Cola by 2.4% in the fourth quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock valued at $932,000 after acquiring an additional 374 shares during the last quarter. Wealth Quarterback LLC increased its position in Coca-Cola by 3.2% during the 4th quarter. Wealth Quarterback LLC now owns 17,454 shares of the company’s stock valued at $1,029,000 after purchasing an additional 537 shares during the period. Finally, BDF Gestion bought a new position in Coca-Cola during the 2nd quarter worth approximately $7,421,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on KO. BNP Paribas assumed coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective on the stock. Barclays upped their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Citigroup lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, TD Cowen lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report 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. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Price Performance

Shares of KO opened at $71.64 on Monday. The business’s fifty day moving average is $69.13 and its 200 day moving average is $64.37. 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 stock has a market cap of $308.62 billion, a P/E ratio of 28.66, a P/E/G ratio of 3.93 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its quarterly earnings data 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 firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. Sell-side analysts anticipate 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 declared 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. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.71%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred 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 transaction, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock valued at $579,704,927 over the last ninety days. 0.97% of the stock is currently owned by insiders.

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.