Infrastructure Capital Advisors LLC raised its position in shares of The Coca-Cola Company (NYSE:KO – Free Report) by 116.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,714 shares of the company’s stock after acquiring an additional 10,607 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Coca-Cola were worth $1,223,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of KO. Trek Financial LLC raised its holdings in shares of Coca-Cola by 68.2% during the first quarter. Trek Financial LLC now owns 7,287 shares of the company’s stock valued at $452,000 after purchasing an additional 2,955 shares during the period. United Bank raised its holdings in shares of Coca-Cola by 1.6% during the first quarter. United Bank now owns 67,018 shares of the company’s stock valued at $4,157,000 after purchasing an additional 1,066 shares during the period. Viawealth LLC raised its holdings in shares of Coca-Cola by 3.2% during the first quarter. Viawealth LLC now owns 10,476 shares of the company’s stock valued at $650,000 after purchasing an additional 325 shares during the period. Koss Olinger Consulting LLC raised its holdings in shares of Coca-Cola by 5.8% during the first quarter. Koss Olinger Consulting LLC now owns 10,396 shares of the company’s stock valued at $645,000 after purchasing an additional 566 shares during the period. Finally, Prospera Financial Services Inc raised its holdings in shares of Coca-Cola by 13.1% during the first quarter. Prospera Financial Services Inc now owns 130,290 shares of the company’s stock valued at $8,083,000 after purchasing an additional 15,073 shares during the period. Institutional investors own 68.96% of the company’s stock.
Coca-Cola Price Performance
Coca-Cola stock opened at $58.33 on Friday. The firm has a 50 day moving average price of $60.70 and a 200-day moving average price of $61.28. The company has a market capitalization of $252.24 billion, a P/E ratio of 24.00, a P/E/G ratio of 3.45 and a beta of 0.55. The Coca-Cola Company has a twelve month low of $54.01 and a twelve month high of $64.99. The company has a quick ratio of 0.95, a current ratio of 1.14 and a debt-to-equity ratio of 1.29.
Coca-Cola Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.15%. The ex-dividend date is Thursday, September 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 75.72%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. HSBC lowered their target price on shares of Coca-Cola from $77.00 to $74.00 in a report on Wednesday, June 7th. Wedbush upped their target price on shares of Coca-Cola from $70.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Royal Bank of Canada upped their target price on shares of Coca-Cola from $69.00 to $70.00 in a report on Thursday, July 27th. StockNews.com assumed coverage on shares of Coca-Cola in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $67.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.33.
Insider Buying and Selling
In related news, SVP Beatriz R. Perez sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total value of $3,133,000.00. Following the completion of the transaction, the senior vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,984,378.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Coca-Cola news, SVP Monica Howard Douglas sold 21,074 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $60.90, for a total value of $1,283,406.60. Following the completion of the transaction, the senior vice president now directly owns 18,360 shares of the company’s stock, valued at approximately $1,118,124. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Beatriz R. Perez sold 50,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $62.66, for a total transaction of $3,133,000.00. Following the sale, the senior vice president now owns 143,383 shares in the company, valued at approximately $8,984,378.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 227,364 shares of company stock valued at $14,122,016. Company insiders own 1.00% 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.
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