3,916 Shares in The Coca-Cola Company (NYSE:KO) Purchased by HBW Advisory Services LLC

HBW Advisory Services LLC purchased a new position in The Coca-Cola Company (NYSE:KO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,916 shares of the company’s stock, valued at approximately $249,000.

Several other institutional investors also recently added to or reduced their stakes in KO. Price T Rowe Associates Inc. MD increased its position in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares during the period. Norges Bank purchased a new position in shares of Coca-Cola in the 4th quarter worth approximately $2,808,056,000. Dimensional Fund Advisors LP grew its position in shares of Coca-Cola by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,171,216 shares of the company’s stock worth $894,028,000 after buying an additional 814,779 shares during the last quarter. Vontobel Asset Management Inc. grew its position in shares of Coca-Cola by 2.7% in the 4th quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company’s stock worth $890,866,000 after buying an additional 378,447 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Coca-Cola by 16.4% in the 4th quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after buying an additional 1,949,500 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. UBS Group lifted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Morgan Stanley lifted their target price 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. TD Cowen lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Truist Financial lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Insider Activity

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the transaction, the executive vice president now owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the transaction, the executive vice president now owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 860,730 shares of company stock valued at $570,617,785. 0.97% of the stock is currently owned by insiders.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded down $0.05 during trading hours on Tuesday, reaching $68.05. 12,967,125 shares of the company’s stock were exchanged, compared to its average volume of 13,084,187. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $69.67. The company has a market capitalization of $293.16 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The business has a fifty day moving average of $64.12 and a two-hundred day moving average of $61.83. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.85%. Coca-Cola’s payout ratio is 77.60%.

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.