Thomas Story & Son LLC Raises Holdings in The Coca-Cola Company (NYSE:KO)

Thomas Story & Son LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,644 shares of the company’s stock after purchasing an additional 275 shares during the quarter. Coca-Cola accounts for approximately 1.4% of Thomas Story & Son LLC’s portfolio, making the stock its 25th largest holding. Thomas Story & Son LLC’s holdings in Coca-Cola were worth $3,351,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in shares of Coca-Cola by 114.9% during the second quarter. Larson Financial Group LLC now owns 23,625 shares of the company’s stock valued at $1,504,000 after acquiring an additional 12,629 shares during the last quarter. Foundations Investment Advisors LLC raised its position in shares of Coca-Cola by 1.8% in the second quarter. Foundations Investment Advisors LLC now owns 48,157 shares of the company’s stock valued at $3,065,000 after buying an additional 860 shares during the last quarter. Weaver Capital Management LLC lifted its stake in shares of Coca-Cola by 6.5% in the second quarter. Weaver Capital Management LLC now owns 33,583 shares of the company’s stock worth $2,138,000 after buying an additional 2,043 shares in the last quarter. Mascoma Wealth Management LLC boosted its position in Coca-Cola by 36.5% during the second quarter. Mascoma Wealth Management LLC now owns 4,233 shares of the company’s stock worth $269,000 after acquiring an additional 1,131 shares during the last quarter. Finally, First National Trust Co grew its stake in Coca-Cola by 1.5% during the 2nd quarter. First National Trust Co now owns 43,393 shares of the company’s stock valued at $2,762,000 after acquiring an additional 628 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 18,484 shares of Coca-Cola stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $30,987,070.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders sold a total of 1,074,910 shares of company stock worth $585,972,318 over the last 90 days. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KO. Truist Financial boosted their target price on Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Citigroup upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.73.

Coca-Cola Stock Down 0.0 %

Coca-Cola stock traded down $0.01 during trading on Wednesday, reaching $73.00. The stock had a trading volume of 3,596,818 shares, compared to its average volume of 13,028,107. 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 Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.51. The stock has a market cap of $314.48 billion, a PE ratio of 29.21, a P/E/G ratio of 4.05 and a beta of 0.59. The business has a 50 day moving average price of $67.01 and a 200 day moving average price of $63.34.

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

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.66%. Coca-Cola’s payout ratio is currently 77.60%.

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.