Arlington Partners LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Arlington Partners LLC boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,956 shares of the company’s stock after buying an additional 1,360 shares during the quarter. Coca-Cola accounts for about 1.6% of Arlington Partners LLC’s portfolio, making the stock its 28th largest holding. Arlington Partners LLC’s holdings in Coca-Cola were worth $3,243,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tidemark LLC purchased a new position in Coca-Cola during the 4th quarter worth approximately $26,000. New Millennium Group LLC purchased a new position in Coca-Cola during the 2nd quarter worth approximately $26,000. Private Wealth Management Group LLC purchased a new position in Coca-Cola during the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola during the 1st quarter worth approximately $28,000. Finally, ESL Trust Services LLC purchased a new position in Coca-Cola during the 1st quarter worth approximately $28,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KO. Morgan Stanley lifted their target price on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Bank of America lifted their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Truist Financial lifted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Four 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, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus target price of $70.73.

Insider Activity

In other news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $14,168,055.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The disclosure for this sale can be found here. In the last quarter, 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 Price Performance

KO traded up $0.42 on Friday, hitting $72.47. 18,624,227 shares of the company’s stock were exchanged, compared to its average volume of 13,806,061. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $72.57. 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 50-day moving average price of $66.66 and a 200-day moving average price of $63.13. The stock has a market cap of $312.34 billion, a price-to-earnings ratio of 28.99, a P/E/G ratio of 4.05 and a beta of 0.59.

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

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.68%. Coca-Cola’s payout ratio is 77.60%.

Coca-Cola 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.