Sandy Cove Advisors LLC Buys 327 Shares of The Coca-Cola Company (NYSE:KO)

Sandy Cove Advisors LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,874 shares of the company’s stock after acquiring an additional 327 shares during the period. Sandy Cove Advisors LLC’s holdings in Coca-Cola were worth $1,216,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Enterprise Bank & Trust Co increased its holdings in Coca-Cola by 3.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after acquiring an additional 167 shares during the last quarter. Goelzer Investment Management Inc. increased its holdings in shares of Coca-Cola by 1.8% in the fourth quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock worth $571,000 after purchasing an additional 169 shares during the last quarter. Elk River Wealth Management LLC lifted its position in shares of Coca-Cola by 1.6% in the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after buying an additional 170 shares in the last quarter. KRS Capital Management LLC boosted its stake in Coca-Cola by 3.8% during the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after buying an additional 170 shares during the last quarter. Finally, Wayfinding Financial LLC grew its holdings in Coca-Cola by 1.8% during the 4th quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after buying an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.4 %

Shares of KO traded down $0.26 during midday trading on Friday, hitting $63.65. 17,358,827 shares of the company’s stock traded hands, compared to its average volume of 11,241,235. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $274.20 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.36. The firm’s fifty day moving average is $62.72 and its 200-day moving average is $60.78.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the firm posted $0.68 EPS. Coca-Cola’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.05%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Ratings Changes

A number of analysts recently issued reports on KO shares. BNP Paribas assumed coverage on Coca-Cola in a research report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Morgan Stanley upped their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Argus upped their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $68.83.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 223,665 shares of company stock valued at $13,995,465. 0.97% of the stock is owned by 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.