Fragasso Financial Advisors Inc Has $407,000 Stock Holdings in The Coca-Cola Company (NYSE:KO)

Fragasso Financial Advisors Inc decreased its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,398 shares of the company’s stock after selling 194 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Coca-Cola were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Tidemark LLC bought a new position in shares of Coca-Cola in the 4th quarter valued at about $26,000. Private Wealth Management Group LLC acquired a new position in Coca-Cola during the fourth quarter worth approximately $27,000. Redmont Wealth Advisors LLC bought a new stake in Coca-Cola in the first quarter valued at approximately $28,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola in the first quarter valued at approximately $28,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $30,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the 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 completion of the sale, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Nancy Quan sold 18,482 shares of the company’s 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 transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the transaction, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The disclosure for this sale can be found here. In the last three months, insiders have sold 879,212 shares of company stock valued at $571,892,119. 0.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KO shares. Argus boosted their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. BNP Paribas initiated coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. JPMorgan Chase & Co. upped their target price on Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Citigroup boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley increased their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $70.20.

Coca-Cola Price Performance

Shares of NYSE:KO traded down $0.05 during trading on Tuesday, hitting $68.05. 12,967,125 shares of the company were exchanged, compared to its average volume of 13,084,187. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $69.67. The company has a market capitalization of $293.16 billion, a P/E ratio of 27.22, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. 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 business’s 50 day moving average is $64.12 and its 200-day moving average is $61.83.

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 return on equity of 43.62% and a net margin of 22.92%. 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. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.