Prime Capital Investment Advisors LLC Has $9.32 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Prime Capital Investment Advisors LLC cut its position in The Coca-Cola Company (NYSE:KO) by 15.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,461 shares of the company’s stock after selling 27,292 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Coca-Cola were worth $9,322,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the second quarter worth approximately $26,000. Tidemark LLC bought a new position in Coca-Cola during the fourth quarter worth $26,000. ESL Trust Services LLC acquired a new position in shares of Coca-Cola during the first quarter valued at about $28,000. Redmont Wealth Advisors LLC acquired a new position in Coca-Cola in the 1st quarter valued at approximately $28,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at $31,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Up 0.3 %

Shares of NYSE KO opened at $71.41 on Monday. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53. The company has a 50-day moving average of $68.28 and a two-hundred day moving average of $63.95. The company has a market cap of $307.63 billion, a PE ratio of 28.56, a P/E/G ratio of 3.93 and a beta of 0.60. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share 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 net margin of 22.92% and a return on equity of 43.62%. Coca-Cola’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.72%. Coca-Cola’s payout ratio is 77.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Truist Financial boosted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their price target 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. Barclays raised their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Finally, Bank of America raised their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $70.73.

Insider Buying and Selling

In other news, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on 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 directly 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 can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,482 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the completion of the transaction, 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. Insiders sold a total of 974,715 shares of company stock worth $579,704,927 over the last three months. 0.97% of the stock is currently owned by company insiders.

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.