The Coca-Cola Company (NYSE:KO) Shares Acquired by Boston Financial Mangement LLC

Boston Financial Mangement LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,641 shares of the company’s stock after acquiring an additional 1,618 shares during the period. Boston Financial Mangement LLC’s holdings in Coca-Cola were worth $2,714,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. New Millennium Group LLC purchased a new stake in shares of Coca-Cola during the second quarter valued at $26,000. Tidemark LLC acquired a new stake in Coca-Cola during the 4th quarter worth about $26,000. ESL Trust Services LLC purchased a new stake in Coca-Cola during the first quarter valued at about $28,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola in the first quarter worth about $28,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Coca-Cola in the fourth quarter worth approximately $27,000. 70.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on KO shares. Bank of America boosted their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. increased their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. StockNews.com downgraded shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. TD Cowen raised their price target 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. Finally, Morgan Stanley lifted their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

Coca-Cola Stock Performance

Shares of Coca-Cola stock traded up $0.42 during trading on Friday, reaching $72.47. The company’s stock had a trading volume of 18,398,818 shares, compared to its average volume of 13,073,931. The Coca-Cola Company has a one year low of $51.55 and a one year high of $72.57. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The firm has a market cap of $312.20 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The business’s fifty day moving average price is $66.46 and its 200-day moving average price is $63.01.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same period in the previous year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.68%. 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, 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 transaction, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Nancy Quan sold 19,304 shares of the 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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,168,055.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the firm’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 transaction, 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. Insiders have sold 1,074,910 shares of company stock worth $585,972,318 in the last ninety days. Insiders own 0.97% of the company’s stock.

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.