Castle Rock Wealth Management LLC Buys 195 Shares of The Coca-Cola Company (NYSE:KO)

Castle Rock Wealth Management LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,702 shares of the company’s stock after purchasing an additional 195 shares during the period. Coca-Cola makes up 5.1% of Castle Rock Wealth Management LLC’s investment portfolio, making the stock its 4th biggest holding. Castle Rock Wealth Management LLC’s holdings in Coca-Cola were worth $14,934,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Fairfield Bush & CO. acquired a new stake in shares of Coca-Cola in the 1st quarter worth about $77,000. Merit Financial Group LLC raised its holdings in shares of Coca-Cola by 16.7% in the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock worth $758,000 after acquiring an additional 1,754 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Coca-Cola by 41.4% in the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock worth $9,255,000 after acquiring an additional 43,680 shares during the last quarter. Ergoteles LLC grew its position in Coca-Cola by 385.3% in the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock worth $1,180,000 after purchasing an additional 15,110 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Coca-Cola by 11.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock worth $176,115,000 after purchasing an additional 301,804 shares in the last quarter. Institutional investors and hedge funds own 68.96% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $57.94 on Friday. The stock has a market capitalization of $250.55 billion, a P/E ratio of 23.84, a PEG ratio of 3.43 and a beta of 0.55. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average is $60.49 and its 200 day moving average is $61.24. The Coca-Cola Company has a 12 month low of $54.01 and a 12 month high of $64.99.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.74 billion. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. Coca-Cola’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.63 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s payout ratio is currently 75.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Barclays upped their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Royal Bank of Canada upped their price objective on shares of Coca-Cola from $69.00 to $70.00 in a research report on Thursday, July 27th. Wedbush upped their price objective on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Finally, HSBC reduced their price objective on shares of Coca-Cola from $77.00 to $74.00 in a research report on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.33.

Insider Activity at Coca-Cola

In other Coca-Cola news, SVP Beatriz R. Perez sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total value of $3,133,000.00. Following the sale, the senior vice president now directly owns 143,383 shares in the company, valued at approximately $8,984,378.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, SVP Beatriz R. Perez sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total value of $3,133,000.00. Following the sale, the senior vice president now directly owns 143,383 shares in the company, valued at approximately $8,984,378.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Monica Howard Douglas sold 21,074 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the sale, the senior vice president now owns 18,360 shares in the company, valued at $1,118,124. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,364 shares of company stock worth $14,122,016. 1.00% of the stock is owned by corporate insiders.

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.