The Coca-Cola Company (NYSE:KO) Shares Bought by Key Financial Inc

Key Financial Inc boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,391 shares of the company’s stock after buying an additional 747 shares during the period. Key Financial Inc’s holdings in Coca-Cola were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in shares of Coca-Cola in the fourth quarter valued at about $1,474,000. Silver Oak Securities Incorporated increased its holdings in shares of Coca-Cola by 26.5% in the fourth quarter. Silver Oak Securities Incorporated now owns 12,357 shares of the company’s stock valued at $728,000 after purchasing an additional 2,590 shares during the period. Gilbert & Cook Inc. increased its holdings in shares of Coca-Cola by 5.6% in the fourth quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock valued at $941,000 after purchasing an additional 841 shares during the period. Mather Group LLC. increased its holdings in shares of Coca-Cola by 5.9% in the fourth quarter. Mather Group LLC. now owns 56,298 shares of the company’s stock valued at $3,318,000 after purchasing an additional 3,122 shares during the period. Finally, McAdam LLC increased its holdings in shares of Coca-Cola by 2.0% in the fourth quarter. McAdam LLC now owns 10,417 shares of the company’s stock valued at $614,000 after purchasing an additional 209 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

KO stock traded up $0.42 during mid-day trading on Friday, reaching $72.47. 18,398,818 shares of the company’s stock were exchanged, compared to its average volume of 13,073,931. The company has a market cap of $312.20 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The stock’s 50 day moving average is $66.46 and its 200 day moving average is $63.01. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $72.57. 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 released its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. On average, research analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.68%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KO. Argus increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Royal Bank of Canada raised their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. TD Cowen raised their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Truist Financial raised their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.73.

Insider Activity

In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,398,603.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,074,910 shares of company stock worth $585,972,318 over the last quarter. 0.97% of the stock is currently owned by corporate insiders.

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.