Zhang Financial LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 29.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,183 shares of the company’s stock after acquiring an additional 2,101 shares during the quarter. Zhang Financial LLC’s holdings in Coca-Cola were worth $578,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in KO. Nauset Wealth Management. LLC purchased a new stake in shares of Coca-Cola in the first quarter valued at approximately $27,000. Delos Wealth Advisors LLC boosted its holdings in shares of Coca-Cola by 4,770.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 487 shares of the company’s stock valued at $29,000 after purchasing an additional 477 shares during the period. Carl Stuart Investment Advisor Inc. purchased a new stake in shares of Coca-Cola in the first quarter valued at approximately $34,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Coca-Cola in the first quarter valued at approximately $35,000. Finally, Rational Advisors LLC purchased a new stake in shares of Coca-Cola in the first quarter valued at approximately $37,000. 68.93% of the stock is owned by institutional investors.
Insider Activity at Coca-Cola
In related news, CEO James Quincey sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the transaction, the chief executive officer now owns 351,737 shares of the company’s stock, valued at $22,542,824.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, CEO James Quincey sold 32,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the transaction, the chief executive officer now owns 351,737 shares of the company’s stock, valued at $22,542,824.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carolyn Everson purchased 983 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were bought at an average cost of $62.29 per share, for a total transaction of $61,231.07. Following the purchase, the director now owns 1,500 shares of the company’s stock, valued at $93,435. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 45,830 shares of company stock valued at $2,939,961. Company insiders own 0.98% of the company’s stock.
Analysts Set New Price Targets
Coca-Cola Price Performance
Shares of KO opened at $59.26 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market cap of $256.28 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 3.76 and a beta of 0.54. The Coca-Cola Company has a 1-year low of $52.28 and a 1-year high of $67.20. The firm has a fifty day moving average price of $62.58 and a 200 day moving average price of $62.67.
Coca-Cola (NYSE:KO – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Coca-Cola had a net margin of 23.16% and a return on equity of 42.13%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $10.57 billion. During the same period in the previous year, the business posted $0.68 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.46 EPS for the current year.
Coca-Cola Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 16th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, September 15th. Coca-Cola’s payout ratio is 79.64%.
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; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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