Keel Point LLC Has $1.05 Million Position in The Coca-Cola Company (NYSE:KO)

Keel Point LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,358 shares of the company’s stock after buying an additional 993 shares during the period. Keel Point LLC’s holdings in Coca-Cola were worth $1,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC acquired a new position in shares of Coca-Cola in the first quarter valued at approximately $25,000. Freedom Wealth Alliance LLC acquired a new position in Coca-Cola in the 4th quarter valued at $25,000. Fortis Capital Advisors LLC bought a new position in Coca-Cola during the 4th quarter worth $30,000. NewSquare Capital LLC boosted its position in shares of Coca-Cola by 62.5% in the first quarter. NewSquare Capital LLC now owns 507 shares of the company’s stock valued at $31,000 after acquiring an additional 195 shares during the period. Finally, KB Financial Partners LLC acquired a new position in shares of Coca-Cola in the first quarter valued at about $31,000. Institutional investors and hedge funds own 68.96% of the company’s stock.

Insiders Place Their Bets

In other Coca-Cola news, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total value of $1,283,406.60. Following the transaction, the senior vice president now owns 18,360 shares in the company, valued at $1,118,124. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the sale, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at $1,118,124. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Murphy sold 156,290 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the completion of the transaction, the chief financial officer now directly owns 228,830 shares in the company, valued at $14,210,343. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,364 shares of company stock worth $14,122,016. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on KO. Wedbush increased their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Royal Bank of Canada upped their target price on Coca-Cola from $69.00 to $70.00 in a research report on Thursday, July 27th. JPMorgan Chase & Co. boosted their price target on Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Barclays increased their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Finally, StockNews.com assumed coverage on shares of Coca-Cola in a report on Thursday, August 17th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.33.

Coca-Cola Trading Down 0.4 %

NYSE:KO traded down $0.23 during trading hours on Tuesday, hitting $58.07. 3,021,793 shares of the company were exchanged, compared to its average volume of 13,102,536. The company has a fifty day simple moving average of $60.49 and a 200 day simple moving average of $61.25. The Coca-Cola Company has a one year low of $54.01 and a one year high of $64.99. The stock has a market capitalization of $251.12 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 3.40 and a beta of 0.55. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last announced its earnings results on Wednesday, July 26th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. The business had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.74 billion. Coca-Cola had a return on equity of 43.06% and a net margin of 23.81%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. Sell-side analysts expect that The Coca-Cola Company will post 2.63 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.84 annualized dividend and a dividend yield of 3.17%. Coca-Cola’s payout ratio is 75.72%.

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.