3,548 Shares in The Coca-Cola Company (NYSE:KO) Acquired by Affiance Financial LLC

Affiance Financial LLC acquired a new stake in The Coca-Cola Company (NYSE:KO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,548 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Patrick M Sweeney & Associates Inc. purchased a new position in Coca-Cola during the fourth quarter worth approximately $410,000. Beacon Pointe Advisors LLC grew its holdings in shares of Coca-Cola by 24.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after purchasing an additional 89,139 shares during the period. Peddock Capital Advisors LLC increased its position in Coca-Cola by 1.4% during the fourth quarter. Peddock Capital Advisors LLC now owns 31,837 shares of the company’s stock worth $1,876,000 after purchasing an additional 443 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $3,255,000. Finally, Kingsview Wealth Management LLC raised its position in Coca-Cola by 17.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 139,368 shares of the company’s stock valued at $8,213,000 after purchasing an additional 21,030 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on KO. Truist Financial raised their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Argus upped their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Royal Bank of Canada lifted their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley upped their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 27th. Four investment analysts have rated the stock with a hold rating and twelve have issued 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 target price of $70.73.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is available through the SEC website. In related news, EVP Nancy Quan sold 18,484 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $30,987,070.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,074,910 shares of company stock valued at $585,972,318. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $72.47 on Tuesday. The stock has a fifty day moving average price of $66.83 and a 200 day moving average price of $63.25. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year 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. The company has a market cap of $312.20 billion, a PE ratio of 28.99, a P/E/G ratio of 4.05 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion during 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 company’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 EPS. Sell-side analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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

Coca-Cola 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.