Keel Point LLC Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Keel Point LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 6.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,358 shares of the company’s stock after purchasing an additional 993 shares during the quarter. Keel Point LLC’s holdings in Coca-Cola were worth $1,045,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Community Trust & Investment Co. lifted its position in Coca-Cola by 0.5% during the second quarter. Community Trust & Investment Co. now owns 49,248 shares of the company’s stock valued at $2,966,000 after purchasing an additional 233 shares in the last quarter. Beacon Capital Management LLC grew its stake in shares of Coca-Cola by 3.9% during the 2nd quarter. Beacon Capital Management LLC now owns 6,291 shares of the company’s stock valued at $379,000 after acquiring an additional 239 shares during the period. Stillwater Capital Advisors LLC increased its holdings in Coca-Cola by 0.4% in the 2nd quarter. Stillwater Capital Advisors LLC now owns 199,509 shares of the company’s stock worth $12,014,000 after acquiring an additional 730 shares in the last quarter. Sciencast Management LP raised its stake in Coca-Cola by 233.1% during the 2nd quarter. Sciencast Management LP now owns 19,300 shares of the company’s stock worth $1,161,000 after acquiring an additional 13,506 shares during the period. Finally, Cardinal Capital Management boosted its position in shares of Coca-Cola by 0.6% in the second quarter. Cardinal Capital Management now owns 76,225 shares of the company’s stock worth $4,625,000 after purchasing an additional 420 shares during the period. Hedge funds and other institutional investors own 68.96% of the company’s stock.

Coca-Cola Stock Down 0.4 %

Shares of Coca-Cola stock traded down $0.23 during trading on Tuesday, hitting $58.07. 3,021,793 shares of the stock traded hands, compared to its average volume of 13,102,536. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock’s fifty day simple moving average is $60.49 and its 200 day simple moving average is $61.25. The firm has a market cap of $251.12 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 3.40 and a beta of 0.55. The Coca-Cola Company has a 52-week low of $54.01 and a 52-week high of $64.99.

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

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.17%. Coca-Cola’s dividend payout ratio is presently 75.72%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, SVP Monica Howard Douglas sold 21,074 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the completion of the sale, the senior vice president now directly owns 18,360 shares in the company, valued at $1,118,124. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Coca-Cola news, SVP Beatriz R. Perez sold 50,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now owns 143,383 shares in the company, valued at approximately $8,984,378.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Monica Howard Douglas sold 21,074 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were 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 in the company, valued at $1,118,124. The disclosure for this sale can be found here. In the last three months, insiders sold 227,364 shares of company stock valued at $14,122,016. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of several recent analyst reports. HSBC decreased their target price on Coca-Cola from $77.00 to $74.00 in a research note on Wednesday, June 7th. StockNews.com started coverage on shares of Coca-Cola in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Wedbush upped their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Royal Bank of Canada raised their price objective on Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. Finally, Barclays lifted 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. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.33.

Coca-Cola Company Profile

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.