The Coca-Cola Company (NYSE:KO) Shares Acquired by Old North State Trust LLC

Old North State Trust LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 2.1% during the second quarter, Holdings Channel reports. The fund owned 19,224 shares of the company’s stock after buying an additional 396 shares during the quarter. Coca-Cola makes up 1.1% of Old North State Trust LLC’s holdings, making the stock its 20th largest holding. Old North State Trust LLC’s holdings in Coca-Cola were worth $1,224,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. TD Cowen raised their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Morgan Stanley boosted their price objective on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. BNP Paribas initiated coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Insider Transactions at Coca-Cola

In related news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 over the last ninety days. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

KO stock opened at $71.79 on Monday. 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 capitalization of $309.27 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.97 and a beta of 0.60. The business has a 50 day simple moving average of $69.82 and a 200-day simple moving average of $64.77. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter last year, the firm earned $0.78 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. 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 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. 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%.

Coca-Cola 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.