MCF Advisors LLC Buys 509 Shares of The Coca-Cola Company (NYSE:KO)

MCF Advisors LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 3.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,412 shares of the company’s stock after acquiring an additional 509 shares during the quarter. MCF Advisors LLC’s holdings in Coca-Cola were worth $987,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in Coca-Cola in the 4th quarter worth approximately $2,808,056,000. Price T Rowe Associates Inc. MD raised its stake in shares of Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company’s stock worth $3,016,023,000 after purchasing an additional 8,733,326 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Coca-Cola by 11,127.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,972,733 shares of the company’s stock worth $293,043,000 after purchasing an additional 4,928,441 shares during the last quarter. Pathstone Holdings LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at $193,342,000. Finally, Putnam Investments LLC boosted its position in shares of Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock valued at $709,051,000 after buying an additional 2,973,234 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on KO shares. Royal Bank of Canada upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Argus boosted their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Barclays raised their price target on Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, TD Cowen upped their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.73.

Coca-Cola Stock Down 1.9 %

Shares of KO stock opened at $71.17 on Friday. The company has a market capitalization of $306.60 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 4.05 and a beta of 0.59. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The company’s fifty day moving average price is $67.33 and its 200-day moving average price is $63.46. The Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Transactions at Coca-Cola

In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,074,910 shares of company stock valued at $585,972,318. 0.97% of the stock is currently owned by 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.