Mid Atlantic Financial Management Inc. ADV Increases Position in The Coca-Cola Company (NYSE:KO)

Mid Atlantic Financial Management Inc. ADV increased its position in shares of The Coca-Cola Company (NYSE:KO) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,751 shares of the company’s stock after purchasing an additional 553 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in The Coca-Cola were worth $1,285,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KO. Geode Capital Management LLC raised its stake in shares of The Coca-Cola by 2.9% in the 1st quarter. Geode Capital Management LLC now owns 58,236,409 shares of the company’s stock valued at $3,060,800,000 after acquiring an additional 1,645,182 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of The Coca-Cola by 1.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,866,731 shares of the company’s stock worth $1,837,825,000 after acquiring an additional 571,710 shares in the last quarter. Franklin Resources Inc. grew its position in The Coca-Cola by 6.5% during the first quarter. Franklin Resources Inc. now owns 24,450,761 shares of the company’s stock valued at $1,288,799,000 after purchasing an additional 1,492,150 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of The Coca-Cola by 19.8% in the second quarter. Alliancebernstein L.P. now owns 17,492,818 shares of the company’s stock worth $946,536,000 after buying an additional 2,893,767 shares during the last quarter. Finally, Swiss National Bank raised its stake in The Coca-Cola by 1.8% during the 1st quarter. Swiss National Bank now owns 16,716,244 shares of the company’s stock valued at $881,113,000 after purchasing an additional 302,200 shares during the last quarter. 66.67% of the stock is owned by institutional investors.

A number of equities research analysts have commented on KO shares. Morgan Stanley increased their price objective on shares of The Coca-Cola from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, July 22nd. UBS Group raised their target price on shares of The Coca-Cola from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, July 22nd. Zacks Investment Research raised shares of The Coca-Cola from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Tuesday, July 6th. Truist raised their target price on shares of The Coca-Cola from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of The Coca-Cola from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, July 22nd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, The Coca-Cola has a consensus rating of “Buy” and a consensus target price of $61.25.

In other news, SVP Nancy Quan sold 19,911 shares of The Coca-Cola stock in a transaction dated Friday, July 16th. The shares were sold at an average price of $56.50, for a total value of $1,124,971.50. Following the completion of the transaction, the senior vice president now directly owns 196,745 shares of the company’s stock, valued at approximately $11,116,092.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Randazza sold 31,652 shares of the business’s stock in a transaction dated Monday, July 26th. The stock was sold at an average price of $57.01, for a total transaction of $1,804,480.52. Following the sale, the insider now owns 69,925 shares in the company, valued at $3,986,424.25. The disclosure for this sale can be found here. Insiders sold 68,188 shares of company stock worth $3,864,107 over the last quarter. Company insiders own 1.01% of the company’s stock.

Shares of NYSE KO opened at $55.69 on Wednesday. The firm has a market cap of $240.12 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.85 and a beta of 0.62. The company has a quick ratio of 1.25, a current ratio of 1.47 and a debt-to-equity ratio of 1.64. The Coca-Cola Company has a 52-week low of $47.30 and a 52-week high of $57.56. The business’s 50 day moving average is $56.29 and its two-hundred day moving average is $54.55.

The Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 20th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The Coca-Cola had a return on equity of 44.17% and a net margin of 22.19%. The business had revenue of $10.10 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same quarter in the prior year, the company earned $0.42 earnings per share. The company’s revenue was up 40.3% on a year-over-year basis. Analysts anticipate that The Coca-Cola Company will post 2.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th will be issued a $0.42 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $1.68 dividend on an annualized basis and a yield of 3.02%. The Coca-Cola’s dividend payout ratio (DPR) is presently 86.15%.

About The Coca-Cola

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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