Hanlon Investment Management Inc. Purchases 447 Shares of The Coca-Cola Company (NYSE:KO)

Hanlon Investment Management Inc. boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,310 shares of the company’s stock after acquiring an additional 447 shares during the quarter. Hanlon Investment Management Inc.’s holdings in Coca-Cola were worth $274,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KO. New Millennium Group LLC bought a new stake in Coca-Cola in the 2nd quarter valued at $26,000. Tidemark LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at about $26,000. ESL Trust Services LLC acquired a new stake in shares of Coca-Cola during the 1st quarter worth about $28,000. Redmont Wealth Advisors LLC bought a new stake in shares of Coca-Cola during the 1st quarter worth about $28,000. Finally, Private Wealth Management Group LLC acquired a new position in Coca-Cola in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 18,484 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $71.50, for a total value of $1,321,606.00. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $15,968,095. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Nikolaos Koumettis sold 80,891 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at approximately $13,644,979.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nancy Quan sold 18,484 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $71.50, for a total transaction of $1,321,606.00. Following the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $15,968,095. The disclosure for this sale can be found here. Insiders have sold a total of 1,074,910 shares of company stock worth $585,972,318 in the last ninety days. Company insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Royal Bank of Canada upped their price objective on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. TD Cowen boosted their target price 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. Wells Fargo & Company upped their price target on shares of Coca-Cola from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Citigroup lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

Coca-Cola Price Performance

Shares of KO traded down $0.03 during midday trading on Friday, hitting $71.14. The company’s stock had a trading volume of 17,485,707 shares, compared to its average volume of 13,186,163. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The Coca-Cola Company has a one year low of $51.55 and a one year high of $73.53. The stock has a market capitalization of $306.47 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 4.05 and a beta of 0.60. The company’s fifty day simple moving average is $67.48 and its two-hundred day simple moving average is $63.54.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. Coca-Cola’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.485 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.73%. Coca-Cola’s dividend payout ratio (DPR) 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.