Bryn Mawr Capital Management LLC Buys 5,053 Shares of The Coca-Cola Company (NYSE:KO)

Bryn Mawr Capital Management LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 109,364 shares of the company’s stock after acquiring an additional 5,053 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Coca-Cola were worth $6,979,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Coca-Cola during the 4th quarter worth $1,474,000. Gilbert & Cook Inc. lifted its holdings in shares of Coca-Cola by 5.6% in the fourth quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock worth $941,000 after acquiring an additional 841 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Coca-Cola by 9.0% in the fourth quarter. Van ECK Associates Corp now owns 686,695 shares of the company’s stock worth $40,467,000 after acquiring an additional 56,759 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its stake in Coca-Cola by 0.9% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 43,420 shares of the company’s stock valued at $2,559,000 after purchasing an additional 400 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. lifted its stake in Coca-Cola by 7.4% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 30,112 shares of the company’s stock valued at $1,775,000 after purchasing an additional 2,084 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Nikolaos Koumettis sold 80,891 shares of the firm’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 completion of the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola 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 completion of the sale, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders sold 1,074,910 shares of company stock worth $585,972,318 over the last quarter. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Up 0.6 %

KO traded up $0.42 during midday trading on Friday, reaching $72.47. 18,624,227 shares of the company were exchanged, compared to its average volume of 13,073,931. The company’s fifty day moving average price is $66.46 and its 200 day moving average price is $63.01. The Coca-Cola Company has a one year low of $51.55 and a one year high of $72.57. The company has a market cap of $312.20 billion, a price-to-earnings ratio of 28.99, 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.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. As a group, analysts expect 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. Stockholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. BNP Paribas initiated coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Truist Financial increased their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Finally, Argus raised their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $70.73.

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.