Parcion Private Wealth LLC Has $6.51 Million Stake in The Coca-Cola Company (NYSE:KO)

Parcion Private Wealth LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 102,312 shares of the company’s stock after buying an additional 749 shares during the quarter. Parcion Private Wealth LLC’s holdings in Coca-Cola were worth $6,512,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Tidemark LLC bought a new stake in Coca-Cola in the 4th quarter valued at about $26,000. New Millennium Group LLC acquired a new position in shares of Coca-Cola during the second quarter worth approximately $26,000. Private Wealth Management Group LLC bought a new position in shares of Coca-Cola in the 4th quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new stake in Coca-Cola in the 1st quarter valued at $28,000. Finally, ESL Trust Services LLC bought a new stake in Coca-Cola during the 1st quarter valued at $28,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Nancy Quan sold 18,482 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $68.95, for a total value of $1,274,333.90. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $15,398,603.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. 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 ninety days. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on KO. Deutsche Bank Aktiengesellschaft upped their target price on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Bank of America lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Citigroup raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Argus lifted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.73.

Coca-Cola Stock Performance

KO traded down $0.03 on Friday, hitting $71.14. The company’s stock had a trading volume of 17,485,707 shares, compared to its average volume of 13,186,163. 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 $306.47 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 4.05 and a beta of 0.60. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The company’s 50 day simple moving average is $67.48 and its 200-day simple moving average is $63.54.

Coca-Cola (NYSE:KO) last posted its quarterly 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. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The firm had revenue of $12.40 billion during the quarter, compared to analyst estimates of $11.78 billion. During the same period last year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, September 13th. Coca-Cola’s payout ratio is presently 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.