Evoke Wealth LLC Increases Position in The Coca-Cola Company (NYSE:KO)

Evoke Wealth LLC lifted its position in The Coca-Cola Company (NYSE:KOGet Rating) by 8.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,341 shares of the company’s stock after purchasing an additional 816 shares during the period. Evoke Wealth LLC’s holdings in Coca-Cola were worth $646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Berkshire Bank grew its stake in shares of Coca-Cola by 2.2% during the first quarter. Berkshire Bank now owns 7,067 shares of the company’s stock worth $438,000 after purchasing an additional 155 shares during the period. Fiducient Advisors LLC lifted its holdings in Coca-Cola by 2.8% during the first quarter. Fiducient Advisors LLC now owns 5,843 shares of the company’s stock worth $365,000 after acquiring an additional 159 shares in the last quarter. Security Financial Services INC. lifted its holdings in Coca-Cola by 3.5% during the first quarter. Security Financial Services INC. now owns 4,710 shares of the company’s stock worth $292,000 after acquiring an additional 160 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in Coca-Cola by 2.4% during the first quarter. CWA Asset Management Group LLC now owns 6,841 shares of the company’s stock worth $424,000 after acquiring an additional 160 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its holdings in shares of Coca-Cola by 1.5% in the first quarter. Clear Creek Financial Management LLC now owns 11,012 shares of the company’s stock valued at $683,000 after purchasing an additional 162 shares in the last quarter. 68.51% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Coca-Cola stock opened at $65.03 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $281.23 billion, a PE ratio of 29.43, a P/E/G ratio of 4.09 and a beta of 0.53. The firm has a fifty day simple moving average of $62.53 and a two-hundred day simple moving average of $62.58. The Coca-Cola Company has a twelve month low of $52.28 and a twelve month high of $67.20.

Coca-Cola (NYSE:KOGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Coca-Cola had a net margin of 23.16% and a return on equity of 42.13%. Coca-Cola’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. Research analysts expect that The Coca-Cola Company will post 2.46 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 16th will be paid a $0.44 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.76 annualized dividend and a dividend yield of 2.71%. Coca-Cola’s dividend payout ratio is presently 79.64%.

Analysts Set New Price Targets

A number of analysts have recently commented on KO shares. Cowen boosted their price target on Coca-Cola from $65.00 to $68.00 and gave the company a “market perform” rating in a report on Tuesday, April 26th. Guggenheim boosted their price target on Coca-Cola from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, April 26th. Barclays set a $74.00 price target on Coca-Cola in a research report on Wednesday, April 27th. Royal Bank of Canada set a $69.00 target price on Coca-Cola in a research report on Tuesday, July 26th. Finally, UBS Group upped their target price on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.35.

Insider Transactions at Coca-Cola

In other news, Director Carolyn Everson bought 983 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were purchased at an average price of $62.29 per share, for a total transaction of $61,231.07. Following the completion of the purchase, the director now owns 1,500 shares in the company, valued at approximately $93,435. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Carolyn Everson acquired 983 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were bought at an average price of $62.29 per share, for a total transaction of $61,231.07. Following the completion of the transaction, the director now directly owns 1,500 shares in the company, valued at $93,435. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 32,000 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $64.09, for a total transaction of $2,050,880.00. Following the completion of the transaction, the chief executive officer now owns 351,737 shares in the company, valued at $22,542,824.33. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

Coca-Cola Company Profile

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The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. 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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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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