TD Capital Management LLC Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

TD Capital Management LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 5,689.7% in the second quarter, HoldingsChannel reports. The firm owned 24,259 shares of the company’s stock after buying an additional 23,840 shares during the quarter. TD Capital Management LLC’s holdings in Coca-Cola were worth $1,544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Tidemark LLC purchased a new stake in Coca-Cola during the 4th quarter worth about $26,000. New Millennium Group LLC purchased a new stake in Coca-Cola during the 2nd quarter worth about $26,000. Private Wealth Management Group LLC purchased a new stake in Coca-Cola in the 4th quarter valued at about $27,000. Redmont Wealth Advisors LLC purchased a new stake in Coca-Cola in the 1st quarter valued at about $28,000. Finally, ESL Trust Services LLC purchased a new stake in Coca-Cola in the 1st quarter valued at about $28,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 18,484 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The transaction 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 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total value of $1,321,606.00. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 80,891 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 218,880 shares in the company, valued at $13,644,979.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,074,910 shares of company stock valued at $585,972,318. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on KO. Wells Fargo & Company lifted their price target on Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday. Citigroup lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays lifted their price target on Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, BNP Paribas began coverage on Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.73.

Coca-Cola Stock Down 1.9 %

Shares of NYSE:KO opened at $71.17 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.08. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53. The stock has a market capitalization of $306.60 billion, a P/E ratio of 28.47, a PEG ratio of 4.05 and a beta of 0.59. The stock has a 50-day simple moving average of $67.33 and a 200-day simple moving average of $63.46.

Coca-Cola (NYSE:KO) last released its quarterly 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. The firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. Equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently declared 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. This represents a $1.94 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 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.