951 Shares in The Coca-Cola Company (NYSE:KO) Acquired by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC purchased a new position in The Coca-Cola Company (NYSE:KO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 951 shares of the company’s stock, valued at approximately $61,000.

A number of other hedge funds have also recently added to or reduced their stakes in KO. Tidemark LLC acquired a new stake in shares of Coca-Cola in the 4th quarter worth about $26,000. Private Wealth Management Group LLC bought a new stake in Coca-Cola during the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Coca-Cola in the first quarter worth approximately $28,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola in the first quarter valued at approximately $28,000. Finally, Criterion Capital Advisors LLC purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE KO traded up $0.40 during trading on Tuesday, reaching $69.38. 11,177,561 shares of the stock traded hands, compared to its average volume of 13,021,942. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The stock has a market capitalization of $298.89 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $69.67. The company has a 50-day moving average of $65.22 and a 200-day moving average of $62.46.

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

Coca-Cola Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley raised their price objective on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Barclays boosted their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BNP Paribas started coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Argus boosted their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Finally, UBS Group increased their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.20.

Insider Activity at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the firm’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 completion of the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. In the last ninety days, insiders sold 871,162 shares of company stock worth $571,697,887. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Profile

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.