Wallace Advisory Group LLC Increases Stock Position in The Coca-Cola Company (NYSE:KO)

Wallace Advisory Group LLC raised its position in The Coca-Cola Company (NYSE:KO) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,446 shares of the company’s stock after acquiring an additional 315 shares during the quarter. Wallace Advisory Group LLC’s holdings in Coca-Cola were worth $474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Coca-Cola by 11,127.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock worth $293,043,000 after acquiring an additional 4,928,441 shares during the period. Pathstone Holdings LLC bought a new stake in Coca-Cola in the fourth quarter valued at $193,342,000. Putnam Investments LLC increased its position in Coca-Cola by 32.8% during the 4th quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after purchasing an additional 2,973,234 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Coca-Cola by 30.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company’s stock worth $776,924,000 after purchasing an additional 2,964,850 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,507,516.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 974,715 shares of company stock valued at $579,704,927. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

KO opened at $71.79 on Monday. The firm has a market cap of $309.27 billion, a PE ratio of 28.72, a P/E/G ratio of 3.97 and a beta of 0.60. The stock has a 50-day moving average price of $69.82 and a 200-day moving average price of $64.77. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

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. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.70%. Coca-Cola’s payout ratio is 77.60%.

Analysts Set New Price Targets

KO has been the topic of a number of research reports. Truist Financial lifted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Morgan Stanley lifted their price objective on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, August 27th. Royal Bank of Canada increased their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, Wells Fargo & Company increased their price objective on Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.07.

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.