Williams Financial LLC Makes New Investment in The Coca-Cola Company (NYSE:KO)

Williams Financial LLC acquired a new position in shares of The Coca-Cola Company (NYSE:KO) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 106,521 shares of the company’s stock, valued at approximately $6,593,000.

Other institutional investors also recently made changes to their positions in the company. Patrick M Sweeney & Associates Inc. bought a new stake in shares of Coca-Cola during the fourth quarter worth approximately $410,000. Beacon Pointe Advisors LLC boosted its stake in shares of Coca-Cola by 24.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after buying an additional 89,139 shares during the period. Birchcreek Wealth Management LLC boosted its stake in shares of Coca-Cola by 12.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock valued at $267,000 after buying an additional 507 shares during the period. Smart Money Group LLC boosted its stake in shares of Coca-Cola by 21.6% in the fourth quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock valued at $291,000 after buying an additional 877 shares during the period. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Coca-Cola by 13.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 12,621 shares of the company’s stock valued at $744,000 after buying an additional 1,495 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE:KO traded up $0.53 during trading on Friday, hitting $69.18. 12,651,230 shares of the company were exchanged, compared to its average volume of 13,051,887. The business’s 50 day moving average is $65.11 and its 200-day moving average is $62.40. The company has a market capitalization of $298.02 billion, a P/E ratio of 27.67, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. 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 Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $69.67.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. Equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.80%. Coca-Cola’s payout ratio is currently 77.60%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KO. Argus boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. TD Cowen boosted their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. UBS Group boosted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.20.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 871,162 shares of company stock worth $571,697,887. 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.