Guyasuta Investment Advisors Inc. raised its stake in shares of The Coca-Cola Co (NYSE:KO) by 6.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 109,692 shares of the company’s stock after purchasing an additional 6,940 shares during the period. Guyasuta Investment Advisors Inc.’s holdings in The Coca-Cola were worth $5,586,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in KO. Prime Capital Investment Advisors LLC purchased a new position in shares of The Coca-Cola in the first quarter valued at about $28,000. LFA Lugano Financial Advisors SA lifted its position in shares of The Coca-Cola by 348.8% in the second quarter. LFA Lugano Financial Advisors SA now owns 552 shares of the company’s stock worth $28,000 after buying an additional 429 shares in the last quarter. Orrstown Financial Services Inc. lifted its position in shares of The Coca-Cola by 230.8% in the first quarter. Orrstown Financial Services Inc. now owns 741 shares of the company’s stock worth $35,000 after buying an additional 517 shares in the last quarter. Financial Gravity Wealth Inc. purchased a new stake in shares of The Coca-Cola in the first quarter worth about $35,000. Finally, Canton Hathaway LLC lifted its position in shares of The Coca-Cola by 83.5% in the second quarter. Canton Hathaway LLC now owns 945 shares of the company’s stock worth $48,000 after buying an additional 430 shares in the last quarter. 66.84% of the stock is owned by institutional investors and hedge funds.
NYSE KO traded up $0.34 during trading hours on Thursday, hitting $54.44. 2,640,703 shares of the company were exchanged, compared to its average volume of 14,860,699. The stock has a 50-day moving average price of $52.85 and a 200 day moving average price of $49.25. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 1.44. The Coca-Cola Co has a 52 week low of $44.25 and a 52 week high of $54.82. The stock has a market cap of $233.86 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 3.80 and a beta of 0.48.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, September 13th. This represents a $1.60 annualized dividend and a yield of 2.94%. The Coca-Cola’s payout ratio is currently 76.92%.
In related news, SVP Lisa Chang acquired 500 shares of The Coca-Cola stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $53.24 per share, with a total value of $26,620.00. Following the completion of the purchase, the senior vice president now directly owns 5,448 shares of the company’s stock, valued at approximately $290,051.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Francisco Crespo sold 125,948 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $6,297,400.00. Following the sale, the insider now directly owns 186,631 shares in the company, valued at $9,331,550. The disclosure for this sale can be found here. Insiders have sold 488,761 shares of company stock worth $25,417,705 over the last three months. 1.33% of the stock is currently owned by insiders.
A number of equities research analysts recently commented on KO shares. Bank of America reiterated a “buy” rating and issued a $60.00 target price (up from $55.00) on shares of The Coca-Cola in a research report on Wednesday, July 24th. Royal Bank of Canada reiterated a “buy” rating and issued a $60.00 target price on shares of The Coca-Cola in a research report on Wednesday, July 24th. BMO Capital Markets boosted their target price on The Coca-Cola from $48.00 to $52.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. HSBC reiterated a “neutral” rating and issued a $52.00 target price on shares of The Coca-Cola in a research report on Wednesday, July 24th. Finally, Atlantic Securities started coverage on The Coca-Cola in a research report on Monday, July 29th. They issued an “overweight” rating and a $62.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $54.10.
About The Coca-Cola
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plantbased beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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