Annex Advisory Services LLC Grows Position in The Coca-Cola Company (NYSE:KO)

Annex Advisory Services LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,789 shares of the company’s stock after purchasing an additional 467 shares during the quarter. Annex Advisory Services LLC’s holdings in Coca-Cola were worth $432,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Norway Savings Bank lifted its stake in Coca-Cola by 0.8% in the second quarter. Norway Savings Bank now owns 22,323 shares of the company’s stock worth $1,421,000 after acquiring an additional 180 shares during the period. Accel Wealth Management lifted its stake in Coca-Cola by 9.4% in the second quarter. Accel Wealth Management now owns 3,682 shares of the company’s stock worth $234,000 after acquiring an additional 316 shares during the period. Cliftonlarsonallen Wealth Advisors LLC lifted its stake in Coca-Cola by 0.9% in the second quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 32,210 shares of the company’s stock worth $2,050,000 after acquiring an additional 284 shares during the period. Cambridge Advisors Inc. lifted its stake in Coca-Cola by 11.7% in the second quarter. Cambridge Advisors Inc. now owns 9,938 shares of the company’s stock worth $633,000 after acquiring an additional 1,039 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in Coca-Cola in the second quarter worth $188,448,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction on Friday, June 14th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 928,460 shares of company stock worth $575,312,245. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

KO stock traded down $0.05 during midday trading on Friday, hitting $68.68. The company’s stock had a trading volume of 12,080,420 shares, compared to its average volume of 13,088,979. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $69.67. 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 firm has a market capitalization of $295.87 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The company has a 50 day moving average of $64.63 and a two-hundred day moving average of $62.06.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to analysts’ expectations 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 firm earned $0.78 EPS. On average, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.94 annualized dividend and a yield of 2.82%. Coca-Cola’s payout ratio is presently 77.60%.

Analysts Set New Price Targets

KO has been the subject of several recent research reports. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. UBS Group raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Truist Financial raised their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Citigroup raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.