The Coca-Cola Company (NYSE:KO) Position Raised by Investment Management of Virginia LLC

Investment Management of Virginia LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 9.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,218 shares of the company’s stock after buying an additional 643 shares during the quarter. Investment Management of Virginia LLC’s holdings in The Coca-Cola were worth $391,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KO. OLD Mission Capital LLC bought a new stake in The Coca-Cola in the third quarter valued at $244,000. Signet Financial Management LLC lifted its stake in The Coca-Cola by 15.5% in the first quarter. Signet Financial Management LLC now owns 4,214 shares of the company’s stock valued at $222,000 after buying an additional 564 shares during the last quarter. Glassman Wealth Services lifted its stake in The Coca-Cola by 12.6% in the first quarter. Glassman Wealth Services now owns 3,333 shares of the company’s stock valued at $176,000 after buying an additional 374 shares during the last quarter. GSB Wealth Management LLC bought a new stake in The Coca-Cola in the first quarter valued at $980,000. Finally, Corbyn Investment Management Inc. MD bought a new stake in The Coca-Cola in the first quarter valued at $686,000. Institutional investors own 66.67% of the company’s stock.

In related news, insider Mark Randazza sold 31,652 shares of the business’s stock in a transaction that occurred on Monday, July 26th. The stock was sold at an average price of $57.01, for a total value of $1,804,480.52. Following the completion of the sale, the insider now directly owns 69,925 shares in the company, valued at approximately $3,986,424.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Brian John Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $55.65, for a total value of $556,500.00. Following the transaction, the chief operating officer now owns 144,229 shares of the company’s stock, valued at $8,026,343.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,188 shares of company stock valued at $3,864,107. 1.01% of the stock is owned by corporate insiders.

A number of equities research analysts recently weighed in on KO shares. Argus lifted their price objective on shares of The Coca-Cola from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, June 17th. Citigroup lifted their price objective on shares of The Coca-Cola from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, July 22nd. Credit Suisse Group lifted their price objective on shares of The Coca-Cola from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, July 22nd. Royal Bank of Canada restated a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday, June 23rd. Finally, UBS Group lifted their price objective on shares of The Coca-Cola from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, July 22nd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $61.25.

NYSE:KO traded up $0.05 on Wednesday, hitting $55.74. 117,431 shares of the company’s stock traded hands, compared to its average volume of 15,537,233. The company has a current ratio of 1.47, a quick ratio of 1.25 and a debt-to-equity ratio of 1.64. The Coca-Cola Company has a 1 year low of $47.30 and a 1 year high of $57.56. The firm has a 50-day moving average price of $56.29 and a 200-day moving average price of $54.55. The company has a market cap of $240.33 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 2.85 and a beta of 0.62.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 20th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The business had revenue of $10.10 billion during the quarter, compared to analyst estimates of $9.30 billion. The Coca-Cola had a return on equity of 44.17% and a net margin of 22.19%. The firm’s revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. On average, research analysts forecast that The Coca-Cola Company will post 2.25 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.01%. The Coca-Cola’s dividend payout ratio is 86.15%.

The Coca-Cola Profile

The Coca-Cola Co is the nonalcoholic beverage company, which engages in the manufacture, market, and sale of non-alcoholic beverages which include sparkling soft drinks, water, enhanced water and sports drinks, juice, dairy and plant-based beverages, tea and coffee and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Fanta, Sprite, Minute Maid, Georgia, Powerade, Del Valle, Schweppes, Aquarius, Minute Maid Pulpy, Dasani, Simply, Glaceau Vitaminwater, Bonaqua, Gold Peak, Fuze Tea, Glaceau Smartwater, and Ice Dew.

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

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