Stokes Capital Advisors LLC Purchases 2,222 Shares of The Coca-Cola Company (NYSE:KO)

Stokes Capital Advisors LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,910 shares of the company’s stock after buying an additional 2,222 shares during the period. Coca-Cola makes up approximately 1.8% of Stokes Capital Advisors LLC’s holdings, making the stock its 27th largest holding. Stokes Capital Advisors LLC’s holdings in Coca-Cola were worth $6,296,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new position in Coca-Cola during the fourth quarter valued at approximately $67,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Coca-Cola by 13.9% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,517 shares of the company’s stock worth $325,000 after acquiring an additional 675 shares during the period. Telos Capital Management Inc. grew its position in shares of Coca-Cola by 14.0% during the fourth quarter. Telos Capital Management Inc. now owns 18,316 shares of the company’s stock worth $1,079,000 after purchasing an additional 2,255 shares in the last quarter. Federated Hermes Inc. raised its stake in Coca-Cola by 12.9% during the 4th quarter. Federated Hermes Inc. now owns 4,159,160 shares of the company’s stock valued at $245,099,000 after purchasing an additional 473,737 shares during the period. Finally, Ninety One UK Ltd purchased a new position in Coca-Cola in the 4th quarter worth approximately $16,005,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 0.8 %

NYSE:KO traded up $0.53 on Friday, hitting $69.18. 12,651,230 shares of the company’s stock traded hands, compared to its average volume of 13,051,887. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $69.67. 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 market cap of $298.02 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59. The firm has a 50-day moving average price of $65.11 and a 200-day moving average price of $62.40.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, topping 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 firm had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period last year, the business earned $0.78 earnings per share. Coca-Cola’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.80%. The ex-dividend date is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Ratings Changes

Several brokerages recently weighed in on KO. Argus boosted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Bank of America boosted their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Morgan Stanley lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Insider Activity at Coca-Cola

In other news, EVP Lisa Chang sold 58,122 shares of Coca-Cola stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the transaction, the executive vice president now directly owns 74,067 shares of the company’s stock, valued at $5,074,330.17. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction on 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 directly owns 223,330 shares in the company, valued at approximately $14,168,055.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following the completion of the sale, the executive vice president now directly owns 74,067 shares in the company, valued at $5,074,330.17. The disclosure for this sale can be found here. Insiders have sold a total of 871,162 shares of company stock worth $571,697,887 over the last 90 days. Insiders own 0.97% of the company’s stock.

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.