Legacy Advisors LLC Has $2.89 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Legacy Advisors LLC raised its stake in The Coca-Cola Company (NYSE:KO) by 55.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,449 shares of the company’s stock after buying an additional 16,192 shares during the period. Legacy Advisors LLC’s holdings in Coca-Cola were worth $2,893,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidemark LLC acquired a new stake in shares of Coca-Cola during the 4th quarter valued at $26,000. New Millennium Group LLC bought a new position in Coca-Cola in the second quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new stake in shares of Coca-Cola during the fourth quarter valued at about $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola during the first quarter worth about $28,000. Finally, ESL Trust Services LLC bought a new stake in shares of Coca-Cola during the first quarter worth about $28,000. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 19,304 shares of the business’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 completion of the sale, the executive vice president now owns 223,330 shares in the company, valued at $14,168,055.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,074,910 shares of company stock worth $585,972,318. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $72.47 on Friday. 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 Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $72.57. The company has a fifty day moving average of $66.66 and a 200-day moving average of $63.10. The firm has a market capitalization of $312.34 billion, a P/E ratio of 28.99, a P/E/G ratio of 4.05 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping 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 business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period last year, the company posted $0.78 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on KO shares. TD Cowen raised their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Bank of America boosted their price objective on shares of 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 started coverage on Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Finally, Citigroup lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

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.