The Coca-Cola Company (NYSE:KO) Shares Purchased by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 4.4% during the second quarter, Holdings Channel reports. The fund owned 30,960 shares of the company’s stock after acquiring an additional 1,311 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Coca-Cola were worth $1,864,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Summitry LLC raised its stake in Coca-Cola by 1.7% during the first quarter. Summitry LLC now owns 9,668 shares of the company’s stock worth $600,000 after purchasing an additional 159 shares during the period. Ten Capital Wealth Advisors LLC raised its stake in shares of Coca-Cola by 4.7% in the 1st quarter. Ten Capital Wealth Advisors LLC now owns 3,584 shares of the company’s stock valued at $222,000 after acquiring an additional 162 shares during the period. Naples Global Advisors LLC raised its stake in shares of Coca-Cola by 0.7% in the 1st quarter. Naples Global Advisors LLC now owns 23,188 shares of the company’s stock valued at $1,448,000 after acquiring an additional 165 shares during the period. McKinley Carter Wealth Services Inc. raised its stake in shares of Coca-Cola by 1.3% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 12,780 shares of the company’s stock valued at $793,000 after acquiring an additional 165 shares during the period. Finally, Castleview Partners LLC raised its stake in shares of Coca-Cola by 4.4% in the 1st quarter. Castleview Partners LLC now owns 3,973 shares of the company’s stock valued at $246,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 68.96% of the company’s stock.

Coca-Cola Price Performance

Shares of KO stock opened at $57.94 on Monday. The firm has a market cap of $250.55 billion, a P/E ratio of 23.84, a P/E/G ratio of 3.43 and a beta of 0.55. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95. The Coca-Cola Company has a 1-year low of $54.01 and a 1-year high of $64.99. The firm has a fifty day moving average of $60.49 and a two-hundred day moving average of $61.25.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.70 EPS. As a group, research analysts anticipate that The Coca-Cola Company will post 2.63 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 75.72%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KO. Wedbush raised their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Barclays raised their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. StockNews.com began coverage on shares of Coca-Cola in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Royal Bank of Canada raised their target price on shares of Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. Finally, HSBC dropped their price target on shares of Coca-Cola from $77.00 to $74.00 in a research note on Wednesday, June 7th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.33.

Insider Activity

In other news, SVP Monica Howard Douglas sold 21,074 shares of Coca-Cola stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the completion of the transaction, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at approximately $1,118,124. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, SVP Beatriz R. Perez sold 50,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the completion of the transaction, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Monica Howard Douglas sold 21,074 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the transaction, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at $1,118,124. The disclosure for this sale can be found here. In the last three months, insiders sold 227,364 shares of company stock valued at $14,122,016. Company insiders own 1.00% 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.