Mathes Company Inc. Buys 900 Shares of The Coca-Cola Company (NYSE:KO)

Mathes Company Inc. raised its stake in The Coca-Cola Company (NYSE:KO) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,145 shares of the company’s stock after purchasing an additional 900 shares during the period. Mathes Company Inc.’s holdings in Coca-Cola were worth $2,301,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tidemark LLC bought a new position in shares of Coca-Cola during the 4th quarter worth about $26,000. New Millennium Group LLC bought a new position in shares of Coca-Cola during the 2nd quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Coca-Cola during the 1st quarter worth about $28,000. ESL Trust Services LLC bought a new position in shares of Coca-Cola during the 1st quarter worth about $28,000. Finally, Frazier Financial Advisors LLC bought a new position in shares of Coca-Cola during the 4th quarter worth about $31,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Down 0.1 %

KO opened at $71.76 on Thursday. The company has a market cap of $309.14 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The firm has a 50 day simple moving average of $68.83 and a 200 day simple moving average of $64.18. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last announced 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 net margin of 22.92% and a return on equity of 43.62%. The business had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In related news, EVP Nancy Quan sold 19,304 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $14,507,516.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,507,516.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 58,122 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $68.51, for a total transaction of $3,981,938.22. Following 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. Over the last 90 days, insiders sold 974,715 shares of company stock worth $579,704,927. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KO. Morgan Stanley raised their price objective on shares of Coca-Cola from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, August 27th. Argus increased their target price 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. Barclays increased their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, BNP Paribas initiated coverage on shares of Coca-Cola in a research report on Monday, June 24th. They set an “outperform” rating and a $72.00 target price for the company. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $71.07.

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.