Elo Mutual Pension Insurance Co Raises Stock Holdings in The Coca-Cola Company (NYSE:KO)

Elo Mutual Pension Insurance Co boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 13.0% in the second quarter, HoldingsChannel reports. The fund owned 384,333 shares of the company’s stock after acquiring an additional 44,084 shares during the period. Coca-Cola accounts for 0.6% of Elo Mutual Pension Insurance Co’s portfolio, making the stock its 28th biggest holding. Elo Mutual Pension Insurance Co’s holdings in Coca-Cola were worth $24,463,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Elwood & Goetz Wealth Advisory Group LLC grew its stake in Coca-Cola by 2.2% in the 2nd 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 in the last quarter. Drive Wealth Management LLC boosted its holdings in shares of Coca-Cola by 1.6% in the second 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 during the period. Capital Advisors Ltd. LLC increased its holdings in Coca-Cola by 4.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after purchasing an additional 153 shares during the period. Liberty Capital Management Inc. raised its position in Coca-Cola by 3.7% during the 2nd quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after purchasing an additional 155 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its holdings in shares of Coca-Cola by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock worth $2,699,000 after buying an additional 160 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KO has been the topic of several research reports. TD Cowen raised 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. Morgan Stanley boosted their price objective 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. Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Monday. Finally, BNP Paribas began coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Stock Down 0.4 %

Coca-Cola stock opened at $71.80 on Wednesday. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The company has a market cap of $309.31 billion, a PE ratio of 28.72, a PEG ratio of 3.93 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The business’s 50-day simple moving average is $68.65 and its two-hundred day simple moving average is $64.13.

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

Coca-Cola Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was 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 directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. 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 18,482 shares of the firm’s 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 transaction, the executive vice president now directly 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 at the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

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.