1620 Investment Advisors Inc. Purchases New Stake in The Coca-Cola Company (NYSE:KO)

1620 Investment Advisors Inc. acquired a new position in shares of The Coca-Cola Company (NYSE:KO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,563 shares of the company’s stock, valued at approximately $99,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Tennessee Valley Asset Management Partners bought a new stake in Coca-Cola in the 4th quarter valued at about $67,000. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $1,474,000. RWA Wealth Partners LLC boosted its holdings in Coca-Cola by 95.3% in the 4th quarter. RWA Wealth Partners LLC now owns 108,461 shares of the company’s stock worth $6,392,000 after buying an additional 52,912 shares during the period. Larson Financial Group LLC grew its stake in Coca-Cola by 240.1% in the 4th quarter. Larson Financial Group LLC now owns 12,351 shares of the company’s stock valued at $728,000 after buying an additional 8,719 shares in the last quarter. Finally, Community Bank & Trust Waco Texas raised its holdings in Coca-Cola by 2.8% during the 4th quarter. Community Bank & Trust Waco Texas now owns 30,094 shares of the company’s stock valued at $1,773,000 after acquiring an additional 831 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KO. Morgan Stanley lifted their price target on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Bank of America lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company increased their price target on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Barclays increased their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Coca-Cola Price Performance

KO opened at $69.33 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $70.13. The stock’s 50 day simple moving average is $65.60 and its 200 day simple moving average is $62.62. The firm has a market cap of $298.67 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.80 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its 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. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.80%. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 911,496 shares of company stock valued at $574,502,713. 0.97% of the stock is currently owned by corporate insiders.

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.