Sanctuary Advisors LLC acquired a new stake in The Coca-Cola Company (NYSE:KO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 372,644 shares of the company's stock, valued at approximately $23,007,000.
Other large investors have also made changes to their positions in the company. New Millennium Group LLC acquired a new stake in shares of Coca-Cola in the second quarter worth approximately $26,000. Quarry LP acquired a new stake in Coca-Cola during the 2nd quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola during the first quarter worth $28,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. lifted its stake in shares of Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company's stock worth $32,000 after buying an additional 206 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on the stock. Hsbc Global Res raised shares of Coca-Cola to a "strong-buy" rating in a research note on Friday, September 27th. Bank of America increased their price target on Coca-Cola from $68.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, July 10th. BNP Paribas began coverage on Coca-Cola in a report on Monday, June 24th. They issued an "outperform" rating and a $72.00 target price for the company. Royal Bank of Canada lifted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an "outperform" rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Coca-Cola from a "buy" rating to a "hold" rating in a report on Friday, July 19th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coca-Cola has an average rating of "Moderate Buy" and an average target price of $71.07.
Check Out Our Latest Analysis on KO
NYSE:KO opened at $71.01 on Thursday. 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 debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The company has a 50 day moving average price of $70.20 and a 200 day moving average price of $64.98. The stock has a market capitalization of $305.91 billion, a P/E ratio of 28.40, a PEG ratio of 3.97 and a beta of 0.60.
Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion during the quarter, compared to analysts' expectations 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 was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. Equities research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, September 13th. Coca-Cola's dividend payout ratio is presently 77.60%.
In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,968,095. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,968,095. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 974,715 shares of company stock worth $579,704,927. Company insiders own 0.97% of the company's stock.
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.
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