The Coca-Cola Company (NYSE:KO) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 14.1% in the first quarter, Holdings Channel.com reports. The fund owned 60,356 shares of the company’s stock after purchasing an additional 7,470 shares during the period. Procyon Advisors LLC’s holdings in Coca-Cola were worth $3,693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Tidemark LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC acquired a new position in Coca-Cola in the 4th quarter valued at $27,000. ZRC Wealth Management LLC raised its holdings in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in Coca-Cola in the 4th quarter valued at $30,000. Finally, Frazier Financial Advisors LLC acquired a new position in Coca-Cola in the 4th quarter valued at $31,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on KO shares. UBS Group boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Argus boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Morgan Stanley boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, Evercore ISI boosted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.83.

Coca-Cola Stock Down 0.2 %

Coca-Cola stock traded down $0.14 during trading on Thursday, reaching $63.91. 8,492,745 shares of the company’s stock were exchanged, compared to its average volume of 13,091,349. The company’s 50-day moving average is $62.55 and its two-hundred day moving average is $60.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.36. The firm has a market cap of $275.32 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.61 and a beta of 0.59.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the company earned $0.68 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. On average, analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.04%. Coca-Cola’s dividend payout ratio is currently 77.60%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total value of $561,812.94. Following the transaction, the executive vice president now owns 33,638 shares in the company, valued at approximately $2,129,621.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $14,168,055.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Monica Howard Douglas sold 8,874 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now owns 33,638 shares in the company, valued at approximately $2,129,621.78. The disclosure for this sale can be found here. Insiders have sold 223,665 shares of company stock worth $13,995,465 in the last quarter. 0.97% of the stock is owned by corporate 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.