Daymark Wealth Partners LLC Grows Stock Position in The Coca-Cola Company (NYSE:KO)

Daymark Wealth Partners LLC raised its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,335 shares of the company's stock after purchasing an additional 11,904 shares during the period. Daymark Wealth Partners LLC's holdings in Coca-Cola were worth $14,279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Coca-Cola by 21.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,297,505 shares of the company's stock worth $3,016,023,000 after acquiring an additional 8,733,326 shares during the period. Vontobel Asset Management Inc. lifted its position in shares of Coca-Cola by 2.7% in the 4th quarter. Vontobel Asset Management Inc. now owns 14,337,691 shares of the company's stock worth $890,866,000 after purchasing an additional 378,447 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Coca-Cola by 30.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,698,984 shares of the company's stock valued at $776,924,000 after purchasing an additional 2,964,850 shares in the last quarter. Putnam Investments LLC increased its holdings in Coca-Cola by 32.8% during the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company's stock valued at $709,051,000 after buying an additional 2,973,234 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Coca-Cola by 15.7% in the first quarter. Canada Pension Plan Investment Board now owns 10,433,875 shares of the company's stock worth $638,344,000 after buying an additional 1,417,930 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

KO traded down $0.08 during midday trading on Thursday, hitting $71.37. 10,814,425 shares of the company traded hands, compared to its average volume of 13,298,390. The company has a market capitalization of $307.46 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 3.97 and a beta of 0.60. The business has a 50 day simple moving average of $69.57 and a two-hundred day simple moving average of $64.59. 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 52-week low of $51.55 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 earnings per share 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 firm had revenue of $12.40 billion for the quarter, compared to analyst estimates of $11.78 billion. During the same period last year, the company posted $0.78 EPS. Coca-Cola's quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that The Coca-Cola Company will post 2.85 earnings per share 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. Investors of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, September 13th. Coca-Cola's dividend payout ratio is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 102,533 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total transaction of $7,179,360.66. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company's stock, valued at $30,987,070.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, CEO James Quincey sold 102,533 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.02, for a total value of $7,179,360.66. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company's stock, valued at approximately $30,987,070.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $553,722,575.00. Following the completion of the sale, the insider now owns 1,883,546 shares of the company's stock, valued at $1,742,280,050. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 974,715 shares of company stock worth $579,704,927. Corporate insiders own 0.97% of the company's stock.

Analysts Set New Price Targets

KO has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Coca-Cola from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, September 16th. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $68.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 10th. TD Cowen increased their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the company a "hold" rating in a research report on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th. Finally, Citigroup increased their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.