Evernest Financial Advisors LLC Boosts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Evernest Financial Advisors LLC increased its position in The Coca-Cola Company (NYSE:KO) by 4.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,790 shares of the company’s stock after acquiring an additional 596 shares during the period. Evernest Financial Advisors LLC’s holdings in Coca-Cola were worth $878,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Biltmore Family Office LLC boosted its holdings in shares of Coca-Cola by 13.7% during the 2nd quarter. Biltmore Family Office LLC now owns 18,575 shares of the company’s stock valued at $1,191,000 after acquiring an additional 2,240 shares during the last quarter. Studio Investment Management LLC lifted its position in Coca-Cola by 18.8% during the second quarter. Studio Investment Management LLC now owns 1,206 shares of the company’s stock valued at $78,000 after purchasing an additional 191 shares during the period. Vaughan David Investments LLC IL boosted its holdings in Coca-Cola by 0.5% in the second quarter. Vaughan David Investments LLC IL now owns 630,123 shares of the company’s stock worth $40,107,000 after purchasing an additional 2,912 shares during the last quarter. Angeles Wealth Management LLC grew its position in Coca-Cola by 18.0% in the 2nd quarter. Angeles Wealth Management LLC now owns 13,159 shares of the company’s stock worth $838,000 after purchasing an additional 2,010 shares during the period. Finally, Carson Advisory Inc. raised its stake in Coca-Cola by 5.3% during the 2nd quarter. Carson Advisory Inc. now owns 26,204 shares of the company’s stock valued at $1,668,000 after buying an additional 1,321 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cola Co Coca sold 598,619 shares of the company’s 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 sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,055,606 shares of company stock worth $584,747,672. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

NYSE:KO opened at $71.55 on Wednesday. The business’s 50-day simple moving average is $67.82 and its two-hundred day simple moving average is $63.73. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The stock has a market cap of $308.37 billion, a PE ratio of 28.62, a P/E/G ratio of 3.94 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.

Coca-Cola (NYSE:KO) last issued its earnings results 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 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 quarter last year, the company earned $0.78 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts forecast that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.485 per share. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.71%. Coca-Cola’s dividend payout ratio is 77.60%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KO. BNP Paribas assumed coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Cfra reiterated a “hold” rating on shares of Coca-Cola in a research note on Thursday, September 5th. Truist Financial boosted their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, TD Cowen increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

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.