Fortis Group Advisors LLC Has $374,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Fortis Group Advisors LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 20.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,873 shares of the company’s stock after acquiring an additional 993 shares during the period. Fortis Group Advisors LLC’s holdings in Coca-Cola were worth $374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in shares of Coca-Cola during the second quarter worth about $26,000. Tidemark LLC bought a new stake in Coca-Cola in the 4th quarter worth about $26,000. ESL Trust Services LLC bought a new stake in Coca-Cola in the 1st quarter worth about $28,000. Redmont Wealth Advisors LLC bought a new stake in Coca-Cola in the 1st quarter worth about $28,000. Finally, Private Wealth Management Group LLC bought a new stake in Coca-Cola in the 4th quarter worth about $27,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

Shares of KO stock traded up $0.42 during trading on Friday, reaching $72.47. 18,624,227 shares of the company’s stock traded hands, compared to its average volume of 13,073,931. The company has a market capitalization of $312.20 billion, a P/E ratio of 28.99, a PEG ratio of 3.80 and a beta of 0.59. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The firm’s 50-day moving average is $66.66 and its 200 day moving average is $63.10. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $72.57.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations 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 was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. Equities 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. Shareholders of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Analyst Ratings Changes

A number of brokerages have issued reports on KO. Wells Fargo & Company upped their price objective on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Citigroup upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. TD Cowen upped their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley increased their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.73.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now owns 218,880 shares in the company, valued at approximately $13,644,979.20. The disclosure for this sale can be found here. Insiders have sold 1,074,910 shares of company stock worth $585,972,318 in the last three months. 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.