The Coca-Cola Company (NYSE:KO) Holdings Raised by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,589 shares of the company’s stock after acquiring an additional 2,563 shares during the period. Apollon Wealth Management LLC’s holdings in Coca-Cola were worth $6,721,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Coca-Cola during the fourth quarter valued at approximately $2,808,056,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Coca-Cola by 21.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock valued at $3,016,023,000 after purchasing an additional 8,733,326 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Coca-Cola by 11,138.6% in the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after purchasing an additional 4,933,527 shares during the last quarter. Pathstone Holdings LLC bought a new stake in Coca-Cola in the fourth quarter worth $193,342,000. Finally, Putnam Investments LLC increased its position in Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after buying an additional 2,973,234 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KO. Truist Financial increased their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI increased their price target on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada boosted their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Four 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 has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Insiders sold a total of 871,162 shares of company stock worth $571,697,887 over the last quarter. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE:KO traded down $0.21 during trading on Monday, hitting $68.98. 9,839,366 shares of the stock were exchanged, compared to its average volume of 13,033,500. The company has a market capitalization of $297.14 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $69.67. The company’s fifty day simple moving average is $65.11 and its 200-day simple moving average is $62.40.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The firm had revenue of $12.40 billion during 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%. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.78 earnings per share. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.