Patriot Investment Management Group Inc. Grows Stake in The Coca-Cola Company (NYSE:KO)

Patriot Investment Management Group Inc. lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 6.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,562 shares of the company’s stock after purchasing an additional 710 shares during the period. Patriot Investment Management Group Inc.’s holdings in Coca-Cola were worth $800,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidemark LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola in the 1st quarter worth approximately $28,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola in the 1st quarter worth approximately $28,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO traded down $0.51 during trading hours on Monday, reaching $68.17. 10,020,914 shares of the company’s stock were exchanged, compared to its average volume of 13,078,668. The firm has a market capitalization of $293.67 billion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 3.80 and a beta of 0.59. The company has a 50-day moving average of $64.63 and a 200 day moving average of $62.09. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $69.67.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter in the prior year, the business earned $0.78 EPS. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts anticipate 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 paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Transactions at Coca-Cola

In other news, EVP Lisa Chang sold 58,122 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the transaction, the executive vice president now owns 74,067 shares in the company, valued at approximately $5,074,330.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Henrique Braun sold 57,298 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $63.08, for a total value of $3,614,357.84. Following the completion of the transaction, the executive vice president now owns 52,466 shares in the company, valued at approximately $3,309,555.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 928,460 shares of company stock worth $575,312,245. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on KO shares. BNP Paribas started coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, UBS Group upped their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $70.20.

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.