Perennial Investment Advisors LLC Has $2.80 Million Holdings in The Coca-Cola Company (NYSE:KO)

Perennial Investment Advisors LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,038 shares of the company’s stock after buying an additional 161 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Coca-Cola were worth $2,803,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Elwood & Goetz Wealth Advisory Group LLC raised its holdings in Coca-Cola by 2.2% during the 2nd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after buying an additional 149 shares during the last quarter. Drive Wealth Management LLC raised its holdings in Coca-Cola by 1.6% during the 2nd quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after buying an additional 151 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in Coca-Cola by 4.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock valued at $231,000 after buying an additional 153 shares during the last quarter. Liberty Capital Management Inc. raised its holdings in Coca-Cola by 3.7% during the 2nd quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock valued at $275,000 after buying an additional 155 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV raised its holdings in Coca-Cola by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock valued at $2,699,000 after buying an additional 160 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $15,398,603.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. The disclosure for this sale can be found here. Insiders have sold 974,715 shares of company stock worth $579,704,927 in the last quarter. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. BNP Paribas initiated coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target for the company. Argus upped their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. TD Cowen upped their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $72.10 on Tuesday. The firm’s 50-day moving average price is $68.47 and its 200-day moving average price is $64.04. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The company has a market cap of $310.60 billion, a PE ratio of 28.84, a PEG ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. As a group, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

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.