The Coca-Cola Company (NYSE:KO) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 58.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,017 shares of the company’s stock after acquiring an additional 21,497 shares during the period. Coca-Cola makes up 0.5% of GAMMA Investing LLC’s holdings, making the stock its 25th biggest holding. GAMMA Investing LLC’s holdings in Coca-Cola were worth $3,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Davis Capital Management boosted its stake in shares of Coca-Cola by 1.4% in the second quarter. Davis Capital Management now owns 27,916 shares of the company’s stock valued at $1,767,000 after purchasing an additional 377 shares during the period. Transcend Capital Advisors LLC lifted its stake in Coca-Cola by 0.7% in the second quarter. Transcend Capital Advisors LLC now owns 33,232 shares of the company’s stock worth $2,115,000 after acquiring an additional 221 shares during the last quarter. Waller Financial Planning Group Inc. purchased a new position in Coca-Cola in the second quarter worth approximately $207,000. Bright Futures Wealth Management LLC. purchased a new position in Coca-Cola in the first quarter worth approximately $229,000. Finally, Cape Investment Advisory Inc. lifted its stake in Coca-Cola by 47.6% in the first quarter. Cape Investment Advisory Inc. now owns 17,145 shares of the company’s stock worth $1,049,000 after acquiring an additional 5,529 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KO has been the subject of a number of recent research reports. TD Cowen lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Morgan Stanley lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Truist Financial lifted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Bank of America lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Citigroup raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.20.

Coca-Cola Stock Performance

KO traded up $1.37 during trading on Friday, hitting $69.33. The stock had a trading volume of 22,514,775 shares, compared to its average volume of 12,301,018. 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 firm has a market capitalization of $298.80 billion, a P/E ratio of 27.73, a PEG ratio of 3.80 and a beta of 0.59. The company’s 50-day moving average price is $64.00 and its 200 day moving average price is $61.78. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $69.67.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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 company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares in the company, valued at approximately $2,129,621.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Beatriz R. Perez sold 57,298 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now owns 33,638 shares in the company, valued at $2,129,621.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 879,375 shares of company stock valued at $571,502,245. 0.97% of the stock is owned by company insiders.

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.