First Affirmative Financial Network Boosts Holdings in The Coca-Cola Company (NYSE:KO)

First Affirmative Financial Network boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 25.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,025 shares of the company’s stock after acquiring an additional 1,415 shares during the period. First Affirmative Financial Network’s holdings in Coca-Cola were worth $505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new stake in shares of Coca-Cola during the second quarter valued at approximately $26,000. Quarry LP bought a new stake in Coca-Cola in the second quarter worth $27,000. ESL Trust Services LLC bought a new stake in Coca-Cola in the first quarter worth $28,000. Redmont Wealth Advisors LLC bought a new stake in Coca-Cola in the first quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. increased its position in Coca-Cola by 65.0% in the first quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KO shares. Truist Financial boosted their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. TD Cowen lifted their price objective on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. BNP Paribas initiated coverage on shares of Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Finally, Barclays boosted their target price on shares of Coca-Cola from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.33.

Insiders Place Their Bets

In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 102,533 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Up 0.5 %

NYSE:KO opened at $69.57 on Friday. The Coca-Cola Company has a 1-year low of $52.43 and a 1-year high of $73.53. The company has a 50-day moving average of $70.51 and a 200 day moving average of $65.39. The firm has a market cap of $299.70 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 3.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92.

Coca-Cola (NYSE:KO) last announced its 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. The business had revenue of $12.40 billion during 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 firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. As a group, research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.485 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.79%. Coca-Cola’s dividend payout ratio is presently 77.60%.

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.