TD Capital Management LLC Grows Position in The Coca-Cola Company (NYSE:KO)

TD Capital Management LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5,689.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,259 shares of the company’s stock after purchasing an additional 23,840 shares during the quarter. TD Capital Management LLC’s holdings in Coca-Cola were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Beacon Pointe Advisors LLC grew its holdings in shares of Coca-Cola by 24.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after purchasing an additional 89,139 shares during the period. Focus Financial Network Inc. ADV purchased a new position in Coca-Cola during the 4th quarter valued at about $3,255,000. Kingsview Wealth Management LLC boosted its holdings in Coca-Cola by 17.8% during the 4th quarter. Kingsview Wealth Management LLC now owns 139,368 shares of the company’s stock valued at $8,213,000 after acquiring an additional 21,030 shares during the period. Principal Financial Group Inc. boosted its holdings in Coca-Cola by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 8,474,974 shares of the company’s stock valued at $499,430,000 after acquiring an additional 23,046 shares during the period. Finally, Swedbank AB purchased a new position in Coca-Cola during the 1st quarter valued at about $102,604,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Royal Bank of Canada increased their price target on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. StockNews.com lowered Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Company increased their price target on Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Cfra reaffirmed a “hold” rating on shares of Coca-Cola in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

Coca-Cola Stock Performance

Shares of KO opened at $71.17 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The firm has a market cap of $306.60 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 4.05 and a beta of 0.59. The company’s 50 day simple moving average is $67.33 and its 200-day simple moving average is $63.46. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $73.53.

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, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same period last year, the firm posted $0.78 EPS. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

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 2.73%. Coca-Cola’s dividend payout ratio (DPR) is 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,968,095. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value 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 approximately $1,742,280,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,074,910 shares of company stock valued at $585,972,318. 0.97% of the stock is owned by company insiders.

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.