Advanced Portfolio Management LLC Makes New Investment in The Coca-Cola Company (NYSE:KO)

Advanced Portfolio Management LLC bought a new stake in The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,084 shares of the company's stock, valued at approximately $323,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AlTi Global Inc. grew its position in Coca-Cola by 2.5% during the 4th quarter. AlTi Global Inc. now owns 82,886 shares of the company's stock worth $5,163,000 after purchasing an additional 2,025 shares during the period. Allegheny Financial Group increased its position in shares of Coca-Cola by 2.2% in the fourth quarter. Allegheny Financial Group now owns 13,777 shares of the company's stock valued at $858,000 after buying an additional 294 shares in the last quarter. 4WEALTH Advisors Inc. purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $269,000. Bienville Capital Management LLC grew its stake in shares of Coca-Cola by 23.8% during the 4th quarter. Bienville Capital Management LLC now owns 10,155 shares of the company's stock valued at $632,000 after buying an additional 1,955 shares during the period. Finally, Gallagher Fiduciary Advisors LLC grew its position in Coca-Cola by 21.2% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 21,996 shares of the company's stock valued at $1,369,000 after acquiring an additional 3,842 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Coca-Cola Trading Up 0.6 %

KO stock traded up $0.40 during mid-day trading on Friday, reaching $71.69. 12,626,934 shares of the stock traded hands, compared to its average volume of 15,442,534. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The stock's fifty day moving average is $70.90 and its 200-day moving average is $66.54. The company has a market cap of $308.52 billion, a P/E ratio of 29.02, a P/E/G ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The company's quarterly revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is 81.60%.

Insider Buying and Selling at Coca-Cola

In other news, CEO James Quincey sold 145,435 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now directly owns 246,909 shares of the company's stock, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on KO. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a research note on Thursday, February 13th. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Piper Sandler increased their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, Morgan Stanley increased their target price on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $75.59.

Coca-Cola 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.