Birchcreek Wealth Management LLC Decreases Stock Position in The Coca-Cola Company (NYSE:KO)

Birchcreek Wealth Management LLC lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 17.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,290 shares of the company’s stock after selling 894 shares during the period. Birchcreek Wealth Management LLC’s holdings in Coca-Cola were worth $273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KO. Elwood & Goetz Wealth Advisory Group LLC grew its holdings in Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock valued at $437,000 after purchasing an additional 149 shares during the period. Drive Wealth Management LLC lifted its position in shares of 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 in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of 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 acquiring an additional 153 shares during the period. Liberty Capital Management Inc. increased its holdings in Coca-Cola by 3.7% in the 2nd quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock worth $275,000 after acquiring an additional 155 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV raised its stake 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 worth $2,699,000 after acquiring an additional 160 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company upped their target price on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. BNP Paribas initiated coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective for the company. Finally, Truist Financial lifted their target price on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.73.

Coca-Cola Trading Down 0.6 %

KO opened at $72.56 on Thursday. The stock has a 50-day moving average of $67.18 and a 200 day moving average of $63.41. 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 Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $73.53. The firm has a market cap of $312.59 billion, a P/E ratio of 29.02, 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 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insiders Place Their Bets

In related news, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was 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 owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,968,095. The disclosure for this sale can be found here. Insiders have sold a total of 1,074,910 shares of company stock worth $585,972,318 over the last quarter. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.