Darwin Wealth Management LLC Buys 4,852 Shares of The Coca-Cola Company (NYSE:KO)

Darwin Wealth Management LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 24.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,095 shares of the company’s stock after acquiring an additional 4,852 shares during the period. Darwin Wealth Management LLC’s holdings in Coca-Cola were worth $1,494,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in KO. Fairfield Bush & CO. bought a new position in Coca-Cola in the first quarter valued at $77,000. Merit Financial Group LLC grew its position in Coca-Cola by 16.7% in the first quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock valued at $758,000 after purchasing an additional 1,754 shares in the last quarter. NewEdge Advisors LLC grew its position in Coca-Cola by 41.4% in the first quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock valued at $9,255,000 after purchasing an additional 43,680 shares in the last quarter. Ergoteles LLC grew its position in Coca-Cola by 385.3% in the first quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock valued at $1,180,000 after purchasing an additional 15,110 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Coca-Cola by 11.9% in the first quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after purchasing an additional 301,804 shares in the last quarter. Institutional investors own 68.96% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded up $0.30 during midday trading on Monday, hitting $58.24. 7,793,562 shares of the company traded hands, compared to its average volume of 13,126,431. The stock has a market cap of $251.85 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 3.43 and a beta of 0.55. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.14. The firm’s fifty day moving average price is $60.49 and its 200-day moving average price is $61.25. The Coca-Cola Company has a 12 month low of $54.01 and a 12 month high of $64.99.

Coca-Cola (NYSE:KO) last posted its earnings results on Wednesday, July 26th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. Coca-Cola had a net margin of 23.81% and a return on equity of 43.06%. The business had revenue of $12 billion for the quarter, compared to the consensus estimate of $11.74 billion. During the same period last year, the company earned $0.70 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.63 earnings per share for the current year.

Coca-Cola Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.16%. Coca-Cola’s dividend payout ratio (DPR) is currently 75.72%.

Insider Transactions at Coca-Cola

In other news, SVP Beatriz R. Perez sold 50,000 shares of the business’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 transaction, the senior vice president now owns 143,383 shares in the company, valued at approximately $8,984,378.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Beatriz R. Perez sold 50,000 shares of the business’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 transaction, the senior vice president now owns 143,383 shares in the company, valued at approximately $8,984,378.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Monica Howard Douglas sold 21,074 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $60.90, for a total transaction of $1,283,406.60. Following the completion of the transaction, the senior vice president now owns 18,360 shares in the company, valued at approximately $1,118,124. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 227,364 shares of company stock worth $14,122,016. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KO. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $67.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Royal Bank of Canada increased their price target on shares of Coca-Cola from $69.00 to $70.00 in a research note on Thursday, July 27th. StockNews.com began coverage on shares of Coca-Cola in a research note on Thursday, August 17th. They issued a “buy” rating for the company. HSBC cut their target price on shares of Coca-Cola from $77.00 to $74.00 in a research note on Wednesday, June 7th. Finally, Barclays raised their target price on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.33.

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.