OMC Financial Services LTD Takes $699,000 Position in The Coca-Cola Company (NYSE:KO)

OMC Financial Services LTD bought a new stake in The Coca-Cola Company (NYSE:KO) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,419 shares of the company’s stock, valued at approximately $699,000.

Several other institutional investors and hedge funds have also made changes to their positions in KO. Parcion Private Wealth LLC increased its stake in Coca-Cola by 15.3% in the fourth quarter. Parcion Private Wealth LLC now owns 99,647 shares of the company’s stock valued at $5,872,000 after purchasing an additional 13,187 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of Coca-Cola by 7.1% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 8,354 shares of the company’s stock valued at $492,000 after purchasing an additional 554 shares during the last quarter. Braun Stacey Associates Inc. grew its stake in shares of Coca-Cola by 0.4% during the 4th quarter. Braun Stacey Associates Inc. now owns 62,806 shares of the company’s stock valued at $3,701,000 after buying an additional 230 shares during the period. Baker Ellis Asset Management LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth $200,000. Finally, Integrated Investment Consultants LLC boosted its holdings in Coca-Cola by 18.9% in the fourth quarter. Integrated Investment Consultants LLC now owns 5,639 shares of the company’s stock valued at $332,000 after acquiring an additional 896 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price objective on Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Barclays upped their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $70.20.

Insider Activity

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. In other news, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the transaction, the executive vice president now owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cola Co Coca sold 598,619 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Insiders have sold 879,375 shares of company stock worth $571,502,245 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 2.0 %

NYSE KO traded up $1.37 during trading on Friday, hitting $69.33. 22,514,775 shares of the company traded hands, compared to its average volume of 12,301,018. The company has a market capitalization of $298.80 billion, a P/E ratio of 27.73, a PEG ratio of 3.80 and a beta of 0.59. 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 business has a fifty day simple moving average of $64.00 and a 200 day simple moving average of $61.75. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $69.67.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $12.40 billion for 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%. Coca-Cola’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.