The Coca-Cola Company (NYSE:KO) Shares Bought by Addison Advisors LLC

Addison Advisors LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,853 shares of the company’s stock after acquiring an additional 551 shares during the quarter. Addison Advisors LLC’s holdings in Coca-Cola were worth $563,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Tidemark LLC purchased a new position in Coca-Cola in the 4th quarter valued at about $26,000. New Millennium Group LLC purchased a new position in shares of Coca-Cola during the second quarter valued at approximately $26,000. Private Wealth Management Group LLC purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola during the first quarter worth approximately $28,000. Finally, ESL Trust Services LLC purchased a new stake in Coca-Cola in the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on KO shares. Royal Bank of Canada increased their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial raised their price target on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Citigroup upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.73.

Coca-Cola Stock Down 0.2 %

Shares of NYSE KO traded down $0.11 on Friday, hitting $71.06. The company had a trading volume of 2,741,901 shares, compared to its average volume of 13,114,427. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The firm has a market capitalization of $306.12 billion, a P/E ratio of 28.47, a PEG ratio of 4.05 and a beta of 0.59. The business has a 50 day moving average of $67.33 and a two-hundred day moving average of $63.46.

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

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 102,533 shares of Coca-Cola stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 102,533 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $30,987,070.92. The disclosure for this sale can be found here. Insiders have sold 1,074,910 shares of company stock worth $585,972,318 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Company 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.