The Coca-Cola Company (NYSE:KO) Holdings Cut by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,545,247 shares of the company’s stock after selling 16,740 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Coca-Cola were worth $98,355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Elwood & Goetz Wealth Advisory Group LLC raised its position in shares of Coca-Cola by 2.2% in the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares during the period. Drive Wealth Management LLC raised its holdings in Coca-Cola by 1.6% in the 2nd quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock worth $630,000 after acquiring an additional 151 shares during the period. Capital Advisors Ltd. LLC lifted its position in Coca-Cola by 4.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after acquiring an additional 153 shares during the last quarter. Liberty Capital Management Inc. boosted its holdings in Coca-Cola by 3.7% during the second quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after acquiring an additional 155 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its position in shares of Coca-Cola by 0.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock valued at $2,699,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.4 %

Shares of KO opened at $71.55 on Wednesday. The stock has a 50 day simple moving average of $67.82 and a 200-day simple moving average of $63.73. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The stock has a market cap of $308.37 billion, a PE ratio of 28.62, a PEG ratio of 3.94 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO) last released 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. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid 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 2.71%. Coca-Cola’s dividend payout ratio is 77.60%.

Insider Transactions at Coca-Cola

In other 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 transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 value of $553,722,575.00. Following the completion of the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nancy Quan sold 18,482 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,398,603.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,055,606 shares of company stock valued at $584,747,672. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KO. Deutsche Bank Aktiengesellschaft increased their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Bank of America raised their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Citigroup upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Truist Financial raised their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.