Flagship Harbor Advisors LLC Acquires 884 Shares of The Coca-Cola Company (NYSE:KO)

Flagship Harbor Advisors LLC increased its position in The Coca-Cola Company (NYSE:KOGet Rating) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,275 shares of the company’s stock after buying an additional 884 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Coca-Cola were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of KO. Clark Capital Management Group Inc. increased its stake in Coca-Cola by 12.1% in the 4th quarter. Clark Capital Management Group Inc. now owns 13,701 shares of the company’s stock worth $811,000 after purchasing an additional 1,475 shares during the period. Clearstead Advisors LLC increased its stake in Coca-Cola by 1.8% in the 4th quarter. Clearstead Advisors LLC now owns 95,188 shares of the company’s stock worth $5,636,000 after purchasing an additional 1,716 shares during the period. Rowland & Co. Investment Counsel ADV increased its stake in Coca-Cola by 0.8% in the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 246,758 shares of the company’s stock worth $14,277,000 after purchasing an additional 2,043 shares during the period. HBK Investments L P purchased a new position in Coca-Cola in the 4th quarter worth approximately $1,036,000. Finally, Quantitative Investment Management LLC purchased a new position in Coca-Cola in the 4th quarter worth approximately $12,147,000. Institutional investors own 68.93% of the company’s stock.

Insider Activity

In related news, CEO James Quincey sold 32,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the completion of the sale, the chief executive officer now directly owns 351,737 shares of the company’s stock, valued at approximately $22,542,824.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Carolyn Everson acquired 983 shares of Coca-Cola stock in a transaction on Wednesday, July 27th. The shares were bought at an average cost of $62.29 per share, for a total transaction of $61,231.07. Following the acquisition, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $93,435. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 32,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $64.09, for a total value of $2,050,880.00. Following the transaction, the chief executive officer now owns 351,737 shares in the company, valued at $22,542,824.33. The disclosure for this sale can be found here. Insiders sold 45,830 shares of company stock valued at $2,939,961 in the last ninety days. Insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. set a $70.00 target price on Coca-Cola in a research note on Tuesday, July 26th. Credit Suisse Group set a $68.00 price target on Coca-Cola in a research note on Wednesday, July 20th. HSBC upped their price target on Coca-Cola from $72.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. UBS Group upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Finally, Morgan Stanley reduced their price target on Coca-Cola from $76.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.59.

Coca-Cola Stock Performance

NYSE:KO opened at $59.40 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.48. The Coca-Cola Company has a 12-month low of $52.28 and a 12-month high of $67.20. The stock has a 50-day moving average price of $62.64 and a 200 day moving average price of $62.68. The stock has a market capitalization of $256.88 billion, a P/E ratio of 26.88, a P/E/G ratio of 3.79 and a beta of 0.54.

Coca-Cola (NYSE:KOGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.70 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $10.57 billion. During the same period in the prior year, the company earned $0.68 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Equities research analysts forecast that The Coca-Cola Company will post 2.46 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, September 15th. Coca-Cola’s payout ratio is 79.64%.

About Coca-Cola

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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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