Legacy Financial Advisors Inc. Has $1.95 Million Stake in CocaCola Company (The) $KO

Key Points

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Legacy Financial Advisors Inc. trimmed its stake in CocaCola Company (The) (NYSE:KO - Free Report) by 26.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,176 shares of the company's stock after selling 9,838 shares during the period. Legacy Financial Advisors Inc.'s holdings in CocaCola were worth $1,946,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KO. MorganRosel Wealth Management LLC acquired a new stake in CocaCola in the first quarter valued at $25,000. Garde Capital Inc. bought a new position in shares of CocaCola in the 1st quarter worth about $30,000. Mizuho Securities Co. Ltd. raised its position in shares of CocaCola by 360.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 460 shares of the company's stock worth $33,000 after acquiring an additional 360 shares in the last quarter. Ridgewood Investments LLC raised its position in shares of CocaCola by 148.4% in the 1st quarter. Ridgewood Investments LLC now owns 477 shares of the company's stock worth $34,000 after acquiring an additional 285 shares in the last quarter. Finally, REAP Financial Group LLC raised its position in shares of CocaCola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company's stock worth $35,000 after acquiring an additional 208 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CocaCola

In other CocaCola news, CEO James Quincey sold 266,403 shares of CocaCola stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total transaction of $19,197,000.18. Following the transaction, the chief executive officer owned 275,946 shares of the company's stock, valued at $19,884,668.76. This trade represents a 49.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nikolaos Koumettis sold 37,396 shares of CocaCola stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $69.10, for a total transaction of $2,584,063.60. Following the transaction, the insider directly owned 209,513 shares in the company, valued at approximately $14,477,348.30. This represents a 15.15% decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

CocaCola Price Performance

KO stock opened at $69.15 on Tuesday. The company has a market capitalization of $297.60 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 3.64 and a beta of 0.44. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.98 and a current ratio of 1.21. CocaCola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The business has a 50-day simple moving average of $69.97 and a two-hundred day simple moving average of $70.24.

CocaCola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.04. The business had revenue of $12.50 billion during the quarter, compared to the consensus estimate of $12.55 billion. CocaCola had a return on equity of 44.91% and a net margin of 25.89%. The company's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. Research analysts expect that CocaCola Company will post 2.96 EPS for the current fiscal year.

CocaCola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.04 annualized dividend and a dividend yield of 3.0%. CocaCola's dividend payout ratio (DPR) is currently 72.34%.

Analysts Set New Price Targets

KO has been the subject of several research analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research report on Monday, June 9th. UBS Group lowered their price objective on CocaCola from $86.00 to $84.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. BNP Paribas reissued an "outperform" rating and issued a $83.00 price objective on shares of CocaCola in a research report on Monday, July 21st. JPMorgan Chase & Co. lifted their price objective on CocaCola from $77.00 to $79.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada set a $76.00 target price on CocaCola and gave the company an "outperform" rating in a research note on Monday, July 21st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, CocaCola currently has a consensus rating of "Buy" and an average price target of $77.21.

CocaCola Company 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.

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