Wealth Enhancement Advisory Services LLC Buys Shares of 73,425 The Coca-Cola Co (NYSE:KO)

Wealth Enhancement Advisory Services LLC bought a new stake in The Coca-Cola Co (NYSE:KO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 73,425 shares of the company’s stock, valued at approximately $3,964,000.

A number of other large investors also recently added to or reduced their stakes in KO. Prime Capital Investment Advisors LLC bought a new position in shares of The Coca-Cola in the first quarter worth $28,000. Orrstown Financial Services Inc. raised its stake in The Coca-Cola by 230.8% during the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after purchasing an additional 517 shares during the period. Financial Gravity Wealth Inc. purchased a new position in The Coca-Cola during the first quarter worth about $35,000. Canton Hathaway LLC raised its stake in The Coca-Cola by 83.5% during the second quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after purchasing an additional 430 shares during the period. Finally, PRW Wealth Management LLC purchased a new position in The Coca-Cola during the fourth quarter worth about $50,000. 66.69% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Jennifer K. Mann sold 9,126 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $53.48, for a total value of $488,058.48. Following the sale, the insider now directly owns 41,175 shares of the company’s stock, valued at approximately $2,202,039. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer K. Mann sold 9,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $51.88, for a total transaction of $466,920.00. Following the completion of the sale, the insider now directly owns 41,049 shares in the company, valued at $2,129,622.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 318,761 shares of company stock worth $16,182,125. 1.33% of the stock is owned by corporate insiders.

Several research analysts have commented on KO shares. JPMorgan Chase & Co. boosted their price target on shares of The Coca-Cola from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. BMO Capital Markets upped their price objective on shares of The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Atlantic Securities initiated coverage on shares of The Coca-Cola in a research report on Monday, July 29th. They set an “overweight” rating and a $62.00 price objective for the company. Finally, Royal Bank of Canada restated a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research report on Wednesday, July 24th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $54.10.

Shares of KO traded up $0.92 during trading hours on Thursday, reaching $53.91. The company had a trading volume of 8,300,330 shares, compared to its average volume of 14,180,490. The firm has a 50 day moving average of $52.43. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $227.40 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 3.70 and a beta of 0.48. The Coca-Cola Co has a 12-month low of $44.25 and a 12-month high of $54.82.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.01. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $9.86 billion. The Coca-Cola had a net margin of 21.11% and a return on equity of 45.67%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. Equities research analysts predict that The Coca-Cola Co will post 2.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.97%. The Coca-Cola’s payout ratio is 76.92%.

The Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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