Keel Point LLC Purchases 993 Shares of The Coca-Cola Company (NYSE:KO)

Keel Point LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,358 shares of the company’s stock after purchasing an additional 993 shares during the quarter. Keel Point LLC’s holdings in Coca-Cola were worth $1,045,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fairfield Bush & CO. bought a new position in shares of Coca-Cola in the 1st quarter worth $77,000. Merit Financial Group LLC grew its position in shares of Coca-Cola by 16.7% during the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock worth $758,000 after buying an additional 1,754 shares during the period. NewEdge Advisors LLC increased its stake in shares of Coca-Cola by 41.4% in the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after acquiring an additional 43,680 shares during the last quarter. Ergoteles LLC boosted its stake in Coca-Cola by 385.3% during the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock worth $1,180,000 after acquiring an additional 15,110 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Coca-Cola by 11.9% in the first quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock worth $176,115,000 after purchasing an additional 301,804 shares during the period. Institutional investors and hedge funds own 68.96% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Monica Howard Douglas sold 21,074 shares of Coca-Cola stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the sale, the senior vice president now directly owns 18,360 shares in the company, valued at approximately $1,118,124. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO John Murphy sold 156,290 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $62.10, for a total transaction of $9,705,609.00. Following the completion of the transaction, the chief financial officer now directly owns 228,830 shares in the company, valued at $14,210,343. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Monica Howard Douglas sold 21,074 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the completion of the sale, the senior vice president now owns 18,360 shares in the company, valued at $1,118,124. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 227,364 shares of company stock valued at $14,122,016. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. Wedbush boosted their target price on Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Royal Bank of Canada upped their price target on shares of Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. HSBC dropped their price objective on shares of Coca-Cola from $77.00 to $74.00 in a report on Wednesday, June 7th. Finally, Barclays increased their price objective on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.33.

Coca-Cola Price Performance

Coca-Cola stock traded down $0.23 during mid-day trading on Tuesday, reaching $58.07. 3,021,793 shares of the company were exchanged, compared to its average volume of 13,102,536. The firm has a market cap of $251.12 billion, a PE ratio of 23.99, a PEG ratio of 3.40 and a beta of 0.55. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.14 and a quick ratio of 0.95. The company has a fifty day simple moving average of $60.49 and a 200-day simple moving average of $61.25. The Coca-Cola Company has a 12 month low of $54.01 and a 12 month high of $64.99.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $12 billion during the quarter, compared to analysts’ expectations of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. Coca-Cola’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. As a group, equities research analysts expect that The Coca-Cola Company will post 2.63 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a $0.46 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a yield of 3.17%. Coca-Cola’s dividend payout ratio is currently 75.72%.

About Coca-Cola

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.