Geneos Wealth Management Inc. boosted its stake in The Coca-Cola Company (NYSE:KO – Free Report) by 18.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,125 shares of the company’s stock after purchasing an additional 6,202 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Coca-Cola were worth $2,356,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Edge Capital Group LLC grew its position in Coca-Cola by 0.3% in the 2nd quarter. Edge Capital Group LLC now owns 351,753 shares of the company’s stock valued at $21,183,000 after purchasing an additional 1,022 shares during the period. Jacobi Capital Management LLC grew its holdings in shares of Coca-Cola by 1.0% during the second quarter. Jacobi Capital Management LLC now owns 75,730 shares of the company’s stock valued at $4,560,000 after buying an additional 747 shares during the last quarter. Aveo Capital Partners LLC increased its position in shares of Coca-Cola by 14.1% during the second quarter. Aveo Capital Partners LLC now owns 9,602 shares of the company’s stock worth $578,000 after acquiring an additional 1,184 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in Coca-Cola by 9.6% in the 2nd quarter. Kestra Private Wealth Services LLC now owns 165,446 shares of the company’s stock valued at $9,963,000 after acquiring an additional 14,505 shares in the last quarter. Finally, Smithfield Trust Co increased its holdings in Coca-Cola by 3.5% during the 2nd quarter. Smithfield Trust Co now owns 23,430 shares of the company’s stock worth $1,410,000 after purchasing an additional 798 shares in the last quarter. 68.96% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Coca-Cola from $69.00 to $70.00 in a research report on Thursday, July 27th. Wedbush increased their price target on shares of Coca-Cola from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Bank of America reduced their target price on shares of Coca-Cola from $74.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Finally, Morgan Stanley lowered their price target on shares of Coca-Cola from $70.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. Three analysts have rated the stock with a hold rating and eight 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 price target of $66.36.
In related news, CEO James Quincey sold 92,029 shares of Coca-Cola stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $58.09, for a total transaction of $5,345,964.61. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $25,707,497.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Coca-Cola news, SVP Beatriz R. Perez sold 20,534 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $56.12, for a total transaction of $1,152,368.08. Following the transaction, the senior vice president now owns 143,383 shares in the company, valued at approximately $8,046,653.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 92,029 shares of Coca-Cola stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $58.09, for a total transaction of $5,345,964.61. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $25,707,497.14. The disclosure for this sale can be found here. Insiders sold a total of 204,592 shares of company stock worth $11,455,015 in the last quarter. 1.00% of the stock is owned by company insiders.
Coca-Cola Trading Up 0.1 %
NYSE KO opened at $56.73 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.97 and a current ratio of 1.14. The stock has a market cap of $245.25 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 3.43 and a beta of 0.59. The stock has a 50 day simple moving average of $56.18 and a two-hundred day simple moving average of $59.60. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.99.
Coca-Cola Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.24%. Coca-Cola’s dividend payout ratio (DPR) is 73.90%.
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.
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