Resurgent Financial Advisors LLC Takes $220,000 Position in The Coca-Cola Company (NYSE:KO)

Resurgent Financial Advisors LLC bought a new stake in shares of The Coca-Cola Company (NYSE:KOGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,546 shares of the company’s stock, valued at approximately $220,000.

Other institutional investors have also recently modified their holdings of the company. Berkshire Bank grew its stake in shares of Coca-Cola by 2.2% in the 1st quarter. Berkshire Bank now owns 7,067 shares of the company’s stock worth $438,000 after buying an additional 155 shares during the last quarter. Fiducient Advisors LLC lifted its position in Coca-Cola by 2.8% in the 1st quarter. Fiducient Advisors LLC now owns 5,843 shares of the company’s stock valued at $365,000 after acquiring an additional 159 shares in the last quarter. Security Financial Services INC. lifted its position in Coca-Cola by 3.5% in the 1st quarter. Security Financial Services INC. now owns 4,710 shares of the company’s stock valued at $292,000 after acquiring an additional 160 shares in the last quarter. CWA Asset Management Group LLC lifted its position in Coca-Cola by 2.4% in the 1st quarter. CWA Asset Management Group LLC now owns 6,841 shares of the company’s stock valued at $424,000 after acquiring an additional 160 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its position in Coca-Cola by 1.5% in the 1st quarter. Clear Creek Financial Management LLC now owns 11,012 shares of the company’s stock valued at $683,000 after acquiring an additional 162 shares in the last quarter. 68.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. JPMorgan Chase & Co. set a $70.00 price objective on Coca-Cola in a research report on Tuesday, July 26th. HSBC upped their price objective on Coca-Cola from $72.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Morgan Stanley lowered their price objective on Coca-Cola from $76.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. UBS Group increased their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Royal Bank of Canada set a $69.00 price target on Coca-Cola in a report on Tuesday, July 26th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.59.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $62.32 on Monday. The Coca-Cola Company has a one year low of $52.28 and a one year high of $67.20. The stock’s fifty day moving average is $63.10 and its 200 day moving average is $62.80. The stock has a market cap of $269.51 billion, a P/E ratio of 28.20, a P/E/G ratio of 3.94 and a beta of 0.54. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.95 and a current ratio of 1.13.

Coca-Cola (NYSE:KOGet Rating) last announced its earnings results on Tuesday, July 26th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Coca-Cola had a return on equity of 42.13% and a net margin of 23.16%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $10.57 billion. During the same period last year, the firm earned $0.68 EPS. Coca-Cola’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that The Coca-Cola Company will post 2.46 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, October 3rd. Shareholders of record on Friday, September 16th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.76 dividend on an annualized basis and a yield of 2.82%. Coca-Cola’s payout ratio is presently 79.64%.

Insiders Place Their Bets

In other Coca-Cola news, Director Carolyn Everson purchased 983 shares of the business’s stock in a transaction on Wednesday, July 27th. The stock was acquired at an average price of $62.29 per share, for a total transaction of $61,231.07. Following the purchase, the director now owns 1,500 shares of the company’s stock, valued at approximately $93,435. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, insider Henrique Braun sold 11,318 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $64.35, for a total value of $728,313.30. Following the completion of the sale, the insider now owns 22,828 shares in the company, valued at approximately $1,468,981.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carolyn Everson purchased 983 shares of the business’s stock in a transaction on Wednesday, July 27th. The stock was acquired at an average price of $62.29 per share, with a total value of $61,231.07. Following the purchase, the director now directly owns 1,500 shares in the company, valued at approximately $93,435. The disclosure for this purchase can be found here. In the last quarter, insiders sold 45,830 shares of company stock worth $2,939,961. Corporate insiders own 0.98% of the company’s stock.

About Coca-Cola

(Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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