New Wave Wealth Advisors LLC Invests $273,000 in The Coca-Cola Company (NYSE:KO)

New Wave Wealth Advisors LLC acquired a new stake in The Coca-Cola Company (NYSE:KO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,283 shares of the company’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. New Century Financial Group LLC lifted its holdings in Coca-Cola by 39.4% in the 2nd quarter. New Century Financial Group LLC now owns 12,097 shares of the company’s stock valued at $770,000 after acquiring an additional 3,420 shares during the last quarter. Ariadne Wealth Management LP acquired a new stake in Coca-Cola during the second quarter valued at approximately $275,000. Aldebaran Financial Inc. grew its position in Coca-Cola by 4.8% in the second quarter. Aldebaran Financial Inc. now owns 9,646 shares of the company’s stock worth $614,000 after buying an additional 439 shares during the last quarter. 3Chopt Investment Partners LLC bought a new position in shares of Coca-Cola in the second quarter valued at $510,000. Finally, Heartland Bank & Trust Co lifted its position in shares of Coca-Cola by 4.3% during the 2nd quarter. Heartland Bank & Trust Co now owns 8,473 shares of the company’s stock valued at $539,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Coca-Cola from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. BNP Paribas began coverage on shares of Coca-Cola in a report on Monday, June 24th. They issued an “outperform” rating and a $72.00 target price for the company. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, July 19th. JPMorgan Chase & Co. raised their price objective on shares of Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Cfra restated a “hold” rating on shares of Coca-Cola in a report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.07.

Insider Buying and Selling

In other news, major shareholder Cola Co Coca sold 598,619 shares of Coca-Cola 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 transaction, the insider now directly owns 1,883,546 shares in the company, valued at $1,742,280,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Cola Co Coca sold 598,619 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 1,883,546 shares in the company, valued at approximately $1,742,280,050. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $69.01, for a total transaction of $2,667,443.53. The disclosure for this sale can be found here. In the last three months, insiders sold 974,715 shares of company stock valued at $579,704,927. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.1 %

KO stock opened at $71.86 on Tuesday. The firm has a market cap of $309.57 billion, a PE ratio of 28.74, a PEG ratio of 3.97 and a beta of 0.60. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $73.53. The company has a fifty day simple moving average of $69.96 and a 200 day simple moving average of $64.85. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39.

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

Coca-Cola Announces Dividend

The company also recently disclosed 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. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, September 13th. 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.