The Coca-Cola Company (NYSE:KO) Shares Purchased by KFG Wealth Management LLC

KFG Wealth Management LLC boosted its stake in The Coca-Cola Company (NYSE:KO) by 7.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,344 shares of the company’s stock after acquiring an additional 390 shares during the quarter. KFG Wealth Management LLC’s holdings in Coca-Cola were worth $340,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tidemark LLC purchased a new position in Coca-Cola in the 4th quarter valued at $26,000. Private Wealth Management Group LLC purchased a new position in Coca-Cola in the 4th quarter valued at $27,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola in the 1st quarter valued at $28,000. ESL Trust Services LLC purchased a new position in Coca-Cola in the 1st quarter valued at $28,000. Finally, Criterion Capital Advisors LLC purchased a new position in Coca-Cola in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on KO. Evercore ISI raised their price objective on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Argus lifted their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Royal Bank of Canada lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. lifted their price target on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Four 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Insider Activity

In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 871,162 shares of company stock worth $571,697,887. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.8 %

KO traded up $0.53 during mid-day trading on Friday, hitting $69.18. 12,651,230 shares of the stock were exchanged, compared to its average volume of 13,051,887. The firm’s fifty day moving average is $65.11 and its two-hundred day moving average is $62.40. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $69.67. 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 company has a market cap of $298.02 billion, a PE ratio of 27.67, a PEG ratio of 3.80 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued 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 company had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities 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 disclosed 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 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.