Frank Rimerman Advisors LLC Has $2.27 Million Holdings in The Coca-Cola Company (NYSE:KO)

Frank Rimerman Advisors LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 19,005.3% in the second quarter, Holdings Channel.com reports. The firm owned 35,727 shares of the company’s stock after buying an additional 35,540 shares during the period. Frank Rimerman Advisors LLC’s holdings in Coca-Cola were worth $2,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tidemark LLC purchased a new position in shares of Coca-Cola during the fourth quarter valued at approximately $26,000. New Millennium Group LLC bought a new position in Coca-Cola during the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC purchased a new position in Coca-Cola during the 1st quarter worth $28,000. ESL Trust Services LLC purchased a new position in Coca-Cola during the 1st quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. grew its stake in shares of Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock worth $32,000 after acquiring an additional 206 shares in the last quarter. 70.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KO shares. Barclays raised their price target on shares of Coca-Cola from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Cfra reissued a “hold” rating on shares of Coca-Cola in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft upped their target price on Coca-Cola from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Bank of America lifted their price target on Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley boosted 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. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Coca-Cola Price Performance

NYSE KO opened at $71.64 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The company has a market cap of $308.62 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.93 and a beta of 0.60. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $73.53. The firm’s 50-day simple moving average is $69.13 and its two-hundred day simple moving average is $64.34.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.78 billion. During the same period in the prior year, the company posted $0.78 EPS. Coca-Cola’s revenue was up 3.3% compared to the same quarter last year. Research analysts predict 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 given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, major shareholder Cola Co Coca sold 598,619 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $925.00, for a total value of $553,722,575.00. Following the completion of the transaction, the insider now owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $925.00, for a total transaction of $553,722,575.00. Following the sale, the insider now owns 1,883,546 shares of the company’s stock, valued at approximately $1,742,280,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 37,787 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 974,715 shares of company stock worth $579,704,927. 0.97% of the stock is owned by company insiders.

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.