Torch Wealth Management LLC purchased a new stake in shares of The Coca-Cola Co (NYSE:KO) during the second quarter, Holdings Channel reports. The fund purchased 4,170 shares of the company’s stock, valued at approximately $212,000.
Several other institutional investors have also added to or reduced their stakes in KO. Prime Capital Investment Advisors LLC acquired a new position in The Coca-Cola in the 1st quarter valued at $28,000. Orrstown Financial Services Inc. grew its stake in The Coca-Cola by 230.8% in the 1st quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock valued at $35,000 after buying an additional 517 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in The Coca-Cola in the 1st quarter valued at $35,000. Canton Hathaway LLC grew its stake in The Coca-Cola by 83.5% in the 2nd quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock valued at $48,000 after buying an additional 430 shares during the last quarter. Finally, PRW Wealth Management LLC acquired a new position in The Coca-Cola in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 66.69% of the company’s stock.
NYSE KO traded up $0.80 during midday trading on Thursday, hitting $53.79. The company had a trading volume of 869,912 shares, compared to its average volume of 14,180,490. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.71 and a current ratio of 0.83. The firm has a market cap of $227.40 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.70 and a beta of 0.48. The stock has a fifty day moving average of $52.43. The Coca-Cola Co has a fifty-two week low of $44.25 and a fifty-two week high of $54.82.
The Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The company had revenue of $10 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. As a group, research analysts anticipate that The Coca-Cola Co will post 2.1 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 13th. This represents a $1.60 annualized dividend and a dividend yield of 2.97%. The Coca-Cola’s dividend payout ratio (DPR) is currently 76.92%.
In other news, VP John Murphy sold 84,400 shares of The Coca-Cola stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $49.99, for a total transaction of $4,219,156.00. Following the sale, the vice president now directly owns 133,715 shares in the company, valued at approximately $6,684,412.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer K. Mann sold 9,000 shares of The Coca-Cola 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 sale, the insider now 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 quarter, insiders have sold 318,761 shares of company stock worth $16,182,125. 1.33% of the stock is owned by company insiders.
A number of research analysts recently issued reports on the stock. Morgan Stanley reiterated a “buy” rating and issued a $60.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 31st. ValuEngine upgraded shares of The Coca-Cola from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Deutsche Bank raised their target price on shares of The Coca-Cola from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Royal Bank of Canada reiterated a “buy” rating and issued a $60.00 target price on shares of The Coca-Cola in a research note on Wednesday, July 24th. Finally, Atlantic Securities assumed coverage on shares of The Coca-Cola in a research note on Monday, July 29th. They issued an “overweight” rating and a $62.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $54.10.
About The Coca-Cola
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 plantbased 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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