Elo Mutual Pension Insurance Co Acquires 44,084 Shares of The Coca-Cola Company (NYSE:KO)

Elo Mutual Pension Insurance Co raised its holdings in The Coca-Cola Company (NYSE:KO) by 13.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 384,333 shares of the company’s stock after purchasing an additional 44,084 shares during the quarter. Coca-Cola accounts for 0.6% of Elo Mutual Pension Insurance Co’s investment portfolio, making the stock its 28th largest position. Elo Mutual Pension Insurance Co’s holdings in Coca-Cola were worth $24,463,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Tidemark LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $26,000. New Millennium Group LLC bought a new position in Coca-Cola during the second quarter valued at $26,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the first quarter worth $28,000. ESL Trust Services LLC bought a new stake in shares of Coca-Cola in the first quarter valued at $28,000. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at $31,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Coca-Cola stock opened at $71.80 on Wednesday. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a market cap of $309.31 billion, a P/E ratio of 28.72, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The firm’s fifty day moving average price is $68.65 and its 200-day moving average price is $64.13.

Coca-Cola (NYSE:KO) last issued its quarterly 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. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. On average, equities research analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

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 issued a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.70%. Coca-Cola’s payout ratio is 77.60%.

Insider Activity

In other news, EVP Nancy Quan sold 18,482 shares of Coca-Cola stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $15,398,603.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total value of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,074,330.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 974,715 shares of company stock valued at $579,704,927. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Bank of America increased their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. BNP Paribas initiated coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Truist Financial boosted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Argus upped their price target 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. Finally, Royal Bank of Canada lifted their price objective 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. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.07.

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.