Tennessee Valley Asset Management Partners Acquires New Shares in The Coca-Cola Company (NYSE:KO)

Tennessee Valley Asset Management Partners bought a new position in The Coca-Cola Company (NYSE:KO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,875 shares of the company’s stock, valued at approximately $310,000.

A number of other hedge funds also recently added to or reduced their stakes in KO. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the second quarter worth approximately $26,000. Tidemark LLC acquired a new stake in Coca-Cola in the 4th quarter valued at approximately $26,000. ESL Trust Services LLC bought a new stake in Coca-Cola during the 1st quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola during the 1st quarter worth $28,000. Finally, Private Wealth Management Group LLC bought a new position in shares of Coca-Cola in the fourth quarter worth $27,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 0.9 %

Shares of NYSE KO opened at $71.41 on Friday. 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 12 month low of $51.55 and a 12 month high of $73.53. The company has a market cap of $307.77 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 3.93 and a beta of 0.60. The business has a fifty day simple moving average of $68.28 and a 200-day simple moving average of $63.93.

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

Coca-Cola Dividend Announcement

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 given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,742,280,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Cola Co Coca sold 598,619 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were 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 directly owns 1,883,546 shares of the company’s stock, valued at $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The disclosure for this sale can be found here. Insiders have sold a total of 974,715 shares of company stock valued at $579,704,927 in the last three months. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of 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 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. Argus increased 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. BNP Paribas began coverage on Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price on the stock. Finally, Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $70.73.

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.