Flynn Zito Capital Management LLC Grows Position in The Coca-Cola Company (NYSE:KO)

Flynn Zito Capital Management LLC lifted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 14.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,920 shares of the company’s stock after purchasing an additional 1,921 shares during the quarter. Flynn Zito Capital Management LLC’s holdings in Coca-Cola were worth $950,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Elwood & Goetz Wealth Advisory Group LLC lifted its holdings in Coca-Cola by 2.2% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 6,871 shares of the company’s stock worth $437,000 after buying an additional 149 shares during the period. Drive Wealth Management LLC increased its holdings in shares of Coca-Cola by 1.6% in the second quarter. Drive Wealth Management LLC now owns 9,824 shares of the company’s stock valued at $630,000 after purchasing an additional 151 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Coca-Cola by 4.4% in the second quarter. Capital Advisors Ltd. LLC now owns 3,631 shares of the company’s stock worth $231,000 after purchasing an additional 153 shares during the last quarter. Liberty Capital Management Inc. lifted its holdings in shares of Coca-Cola by 3.7% during the second quarter. Liberty Capital Management Inc. now owns 4,319 shares of the company’s stock worth $275,000 after purchasing an additional 155 shares during the period. Finally, Azzad Asset Management Inc. ADV lifted its holdings in shares of Coca-Cola by 0.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 42,407 shares of the company’s stock worth $2,699,000 after purchasing an additional 160 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. TD Cowen raised their price target on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Barclays increased their price objective on shares of Coca-Cola from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Argus increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, BNP Paribas initiated coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $70.73.

Insider Buying and Selling

In other news, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total transaction of $2,667,443.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $14,168,055.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bruno Pietracci sold 38,653 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,074,910 shares of company stock worth $585,972,318. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

Shares of KO stock opened at $71.15 on Friday. 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 12-month low of $51.55 and a 12-month high of $73.53. The business’s 50 day moving average is $67.48 and its two-hundred day moving average is $63.54. The company has a market capitalization of $306.51 billion, a P/E ratio of 28.46, a P/E/G ratio of 4.05 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. Analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, September 13th. Coca-Cola’s dividend payout ratio is presently 77.60%.

Coca-Cola 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.