Sandy Cove Advisors LLC Has $1.22 Million Stake in The Coca-Cola Company (NYSE:KO)

Sandy Cove Advisors LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 1.7% during the first quarter, HoldingsChannel reports. The firm owned 19,874 shares of the company’s stock after buying an additional 327 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Coca-Cola were worth $1,216,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of KO. ZRC Wealth Management LLC boosted its stake in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the last quarter. Tidemark LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC bought a new stake in Coca-Cola during the fourth quarter worth $27,000. Criterion Capital Advisors LLC purchased a new position in Coca-Cola in the fourth quarter worth $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at $31,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KO has been the topic of a number of analyst reports. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. BNP Paribas initiated coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Morgan Stanley raised their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Evercore ISI increased their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Argus upped their target price on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.83.

Coca-Cola Trading Down 0.4 %

NYSE:KO traded down $0.26 during midday trading on Friday, reaching $63.65. 17,358,827 shares of the stock traded hands, compared to its average volume of 11,241,235. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.36. The stock has a market capitalization of $274.20 billion, a P/E ratio of 25.46, a PEG ratio of 3.60 and a beta of 0.59. The company has a fifty day moving average of $62.72 and a 200 day moving average of $60.78.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. On average, research analysts predict that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insiders Place Their Bets

In other news, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at approximately $10,358,962.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the transaction, the executive vice president now directly owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the completion of the transaction, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 223,665 shares of company stock valued at $13,995,465. Insiders own 0.97% of the company’s stock.

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.