PFG Advisors Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

PFG Advisors increased its holdings in The Coca-Cola Company (NYSE:KO) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,755 shares of the company’s stock after acquiring an additional 567 shares during the quarter. PFG Advisors’ holdings in Coca-Cola were worth $812,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elwood & Goetz Wealth Advisory Group LLC grew its holdings in Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after acquiring an additional 149 shares in the last quarter. Drive Wealth Management LLC grew its holdings in Coca-Cola by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock worth $630,000 after acquiring an additional 151 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Coca-Cola by 4.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after acquiring an additional 153 shares in the last quarter. Liberty Capital Management Inc. grew its holdings in Coca-Cola by 3.7% during the 2nd quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock worth $275,000 after acquiring an additional 155 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV grew its holdings in Coca-Cola by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock worth $2,699,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 42,397 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. Insiders have sold 974,715 shares of company stock valued at $579,704,927 in the last 90 days. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on KO shares. BNP Paribas initiated coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Citigroup increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their price target on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Bank of America increased their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.73.

Coca-Cola Stock Performance

KO opened at $71.41 on Friday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $307.77 billion, a PE ratio of 28.56, a P/E/G ratio of 3.93 and a beta of 0.60. The firm has a 50 day moving average of $68.28 and a two-hundred day moving average of $63.90.

Coca-Cola (NYSE:KO) last posted its quarterly 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 company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period last year, the firm posted $0.78 EPS. Coca-Cola’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.72%. 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.