Gateway Advisory LLC Has $529,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Gateway Advisory LLC raised its position in shares of The Coca-Cola Company (NYSE:KO) by 49.0% in the second quarter, HoldingsChannel.com reports. The firm owned 8,303 shares of the company’s stock after purchasing an additional 2,730 shares during the quarter. Gateway Advisory LLC’s holdings in Coca-Cola were worth $529,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in Coca-Cola during the second quarter worth $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola in the 1st quarter worth about $28,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the 1st quarter worth about $28,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the period. Finally, Mount Lucas Management LP bought a new stake in shares of Coca-Cola during the 2nd quarter valued at about $38,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO opened at $71.71 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company has a fifty day moving average price of $69.30 and a 200-day moving average price of $64.46. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53. The firm has a market cap of $308.92 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 3.93 and a beta of 0.60.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 EPS. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 2.71%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analyst Ratings Changes

Several equities analysts have issued reports on KO shares. Barclays boosted their price target on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Morgan Stanley increased their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price target 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. TD Cowen increased their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Insider Transactions at Coca-Cola

In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the 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 transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,968,095. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 42,397 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $70.02, for a total value 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 974,715 shares of company stock worth $579,704,927 in the last ninety days. Company insiders own 0.97% of the company’s stock.

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.