HWG Holdings LP Acquires Shares of 2,367 The Coca-Cola Company (NYSE:KO)

HWG Holdings LP acquired a new stake in The Coca-Cola Company (NYSE:KO) during the second quarter, HoldingsChannel reports. The fund acquired 2,367 shares of the company’s stock, valued at approximately $151,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Gilbert & Cook Inc. grew its holdings in shares of Coca-Cola by 5.6% during the 4th quarter. Gilbert & Cook Inc. now owns 15,971 shares of the company’s stock worth $941,000 after purchasing an additional 841 shares in the last quarter. Accretive Wealth Partners LLC grew its holdings in shares of Coca-Cola by 1.4% during the 4th quarter. Accretive Wealth Partners LLC now owns 25,843 shares of the company’s stock worth $1,523,000 after purchasing an additional 351 shares in the last quarter. Aveo Capital Partners LLC grew its holdings in shares of Coca-Cola by 13.9% during the 4th quarter. Aveo Capital Partners LLC now owns 9,709 shares of the company’s stock worth $572,000 after purchasing an additional 1,182 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Coca-Cola by 15.2% during the 4th quarter. Jones Financial Companies Lllp now owns 31,101 shares of the company’s stock worth $1,833,000 after purchasing an additional 4,107 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in shares of Coca-Cola by 97.3% during the 4th quarter. CWA Asset Management Group LLC now owns 15,548 shares of the company’s stock worth $916,000 after purchasing an additional 7,666 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Bruno Pietracci sold 38,653 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Nancy Quan sold 18,482 shares of the firm’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 completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $15,398,603.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 974,715 shares of company stock valued at $579,704,927. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on KO shares. Bank of America increased their target price on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Morgan Stanley upped their price objective on Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Cfra restated a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Finally, StockNews.com downgraded Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Trading Up 0.5 %

Shares of KO stock opened at $71.79 on Monday. The stock has a market cap of $309.27 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.97 and a beta of 0.60. The stock has a 50-day moving average of $69.82 and a 200-day moving average of $64.77. 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 Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share. On average, equities research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, September 13th. This represents a $1.94 annualized dividend and a dividend yield of 2.70%. Coca-Cola’s payout ratio is 77.60%.

Coca-Cola 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.