Doheny Asset Management CA Buys 2,092 Shares of The Coca-Cola Company (NYSE:KO)

Doheny Asset Management CA lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 36.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,850 shares of the company’s stock after purchasing an additional 2,092 shares during the quarter. Doheny Asset Management CA’s holdings in Coca-Cola were worth $500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Beacon Pointe Advisors LLC raised its position in Coca-Cola by 24.7% in the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock valued at $26,549,000 after buying an additional 89,139 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new position in Coca-Cola during the 4th quarter worth $3,255,000. Kingsview Wealth Management LLC boosted its holdings in Coca-Cola by 17.8% during the 4th quarter. Kingsview Wealth Management LLC now owns 139,368 shares of the company’s stock worth $8,213,000 after acquiring an additional 21,030 shares during the last quarter. Swedbank AB purchased a new position in Coca-Cola during the 1st quarter worth $102,604,000. Finally, Angeles Investment Advisors LLC boosted its holdings in Coca-Cola by 2.4% during the 4th quarter. Angeles Investment Advisors LLC now owns 15,812 shares of the company’s stock worth $932,000 after acquiring an additional 374 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE KO opened at $71.87 on Tuesday. The company has a market cap of $309.75 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 3.94 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. 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 firm’s 50-day simple moving average is $67.65 and its two-hundred day simple moving average is $63.65.

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

Coca-Cola Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a report 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. Morgan Stanley lifted their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Truist Financial lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Bank of America lifted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.73.

Insider Buying and Selling at Coca-Cola

In other news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,055,606 shares of company stock valued at $584,747,672 over the last three months. 0.97% of the stock is currently owned by insiders.

About Coca-Cola

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.