Patron Partners LLC Takes Position in The Coca-Cola Company (NYSE:KO)

Patron Partners LLC bought a new position in shares of The Coca-Cola Company (NYSE:KO) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 3,679 shares of the company’s stock, valued at approximately $234,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidemark LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $26,000. New Millennium Group LLC acquired a new stake in Coca-Cola in the 2nd quarter valued at about $26,000. Private Wealth Management Group LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola during the first quarter worth approximately $28,000. Finally, ESL Trust Services LLC bought a new stake in shares of Coca-Cola during the first quarter valued at approximately $28,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Down 0.0 %

Shares of KO traded down $0.03 on Friday, hitting $71.14. The company’s stock had a trading volume of 17,485,707 shares, compared to its average volume of 13,186,163. 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 firm has a market capitalization of $306.47 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 4.05 and a beta of 0.60. The firm’s fifty day moving average price is $67.48 and its 200-day moving average price is $63.54. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53.

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

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.73%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insider Activity

In related news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold 1,074,910 shares of company stock worth $585,972,318 over the last ninety days. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on KO. Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research note on Thursday. TD Cowen raised their price target on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Truist Financial upped their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Barclays lifted their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $70.73.

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.