AdvisorNet Financial Inc Grows Stock Holdings in The Coca-Cola Company (NYSE:KO)

AdvisorNet Financial Inc boosted its holdings in The Coca-Cola Company (NYSE:KO) by 2.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,667 shares of the company’s stock after buying an additional 338 shares during the period. AdvisorNet Financial Inc’s holdings in Coca-Cola were worth $806,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of KO. Patrick M Sweeney & Associates Inc. bought a new position in Coca-Cola in the 4th quarter worth approximately $410,000. Beacon Pointe Advisors LLC boosted its position in shares of Coca-Cola by 24.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after acquiring an additional 89,139 shares during the last quarter. Birchcreek Wealth Management LLC boosted its position in shares of Coca-Cola by 12.6% during the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after acquiring an additional 507 shares during the last quarter. Smart Money Group LLC increased its holdings in Coca-Cola by 21.6% in the 4th quarter. Smart Money Group LLC now owns 4,932 shares of the company’s stock valued at $291,000 after acquiring an additional 877 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in Coca-Cola by 13.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 12,621 shares of the company’s stock worth $744,000 after purchasing an additional 1,495 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Coca-Cola

In related news, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,883,546 shares in the company, valued at $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the 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 transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 19,304 shares of the 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 in the company, valued at $14,168,055.20. The disclosure for this sale can be found here. Insiders sold a total of 871,162 shares of company stock valued at $571,697,887 in the last three months. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Argus upped their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. TD Cowen raised their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Bank of America boosted their price target 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. Finally, Royal Bank of Canada increased their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.20.

Coca-Cola Trading Up 0.2 %

NYSE KO traded up $0.16 during trading on Thursday, hitting $68.74. The stock had a trading volume of 6,164,391 shares, compared to its average volume of 13,023,679. The stock has a market capitalization of $296.13 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 3.80 and a beta of 0.59. The stock has a 50 day simple moving average of $64.92 and a 200 day simple moving average of $62.26. The Coca-Cola Company has a one year low of $51.55 and a one year high of $69.67. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter in the previous year, the business earned $0.78 EPS. Coca-Cola’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.82%. Coca-Cola’s payout ratio is 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.