McAdam LLC Grows Stock Position in The Coca-Cola Company (NYSE:KO)

McAdam LLC increased its holdings in The Coca-Cola Company (NYSE:KO) by 6.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 11,551 shares of the company’s stock after purchasing an additional 717 shares during the quarter. McAdam LLC’s holdings in Coca-Cola were worth $735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in Coca-Cola in the 4th quarter valued at approximately $1,474,000. Capital Advisors Ltd. LLC raised its holdings in shares of Coca-Cola by 17.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 3,393 shares of the company’s stock valued at $200,000 after buying an additional 495 shares during the period. Bailard Inc. lifted its stake in Coca-Cola by 17.2% during the 4th quarter. Bailard Inc. now owns 120,658 shares of the company’s stock worth $7,110,000 after acquiring an additional 17,664 shares in the last quarter. Meritage Portfolio Management boosted its holdings in Coca-Cola by 5.3% during the 4th quarter. Meritage Portfolio Management now owns 80,267 shares of the company’s stock valued at $4,730,000 after acquiring an additional 4,022 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Coca-Cola by 2.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,560,884 shares of the company’s stock valued at $150,913,000 after acquiring an additional 64,648 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The shares were sold at an average price of $925.00, for a total value of $553,722,575.00. Following the transaction, the insider now directly owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 18,482 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $68.95, for a total transaction of $1,274,333.90. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,398,603.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola stock in a transaction on Friday, July 5th. The shares were 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 in the company, valued at $1,742,280,050. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,014,029 shares of company stock valued at $581,682,074. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KO. BNP Paribas began coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 price target on the stock. Argus raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Citigroup upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research 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 report on Wednesday, July 10th. Finally, Royal Bank of Canada upped their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.20.

Coca-Cola Trading Up 0.7 %

Shares of Coca-Cola stock opened at $69.79 on Friday. 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 company has a fifty day simple moving average of $65.74 and a 200-day simple moving average of $62.71. The stock has a market cap of $300.65 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 3.80 and a beta of 0.59. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $70.13.

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 the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion during the quarter, compared to the consensus estimate of $11.78 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 2.78%. 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.