Bridgefront Capital LLC Invests $1.22 Million in The Coca-Cola Company (NYSE:KO)

Bridgefront Capital LLC purchased a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,602 shares of the company's stock, valued at approximately $1,220,000.

Several other large investors have also recently added to or reduced their stakes in KO. Crowley Wealth Management Inc. bought a new stake in Coca-Cola in the fourth quarter valued at about $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola in the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the 4th quarter worth approximately $37,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Coca-Cola during the fourth quarter valued at $38,000. Finally, Hoey Investments Inc. raised its stake in shares of Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after purchasing an additional 181 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Nikolaos Koumettis sold 54,708 shares of the 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 sale, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lisa Chang sold 13,445 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the transaction, the executive vice president now directly owns 94,676 shares of the company's stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 in the last 90 days. Company insiders own 0.97% of the company's stock.

Coca-Cola Stock Performance

KO stock traded up $0.70 during midday trading on Wednesday, reaching $72.42. 15,017,468 shares of the company were exchanged, compared to its average volume of 15,462,934. The firm has a market capitalization of $311.66 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The business has a 50-day moving average price of $70.94 and a two-hundred day moving average price of $66.59. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.02. The company had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. Equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. Coca-Cola's payout ratio is presently 81.60%.

Analyst Upgrades and Downgrades

A number of analysts have commented on KO shares. Evercore ISI boosted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Cfra Research upgraded Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. TD Cowen raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. UBS Group raised their target price on shares of Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Finally, Royal Bank of Canada upped their price target on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target 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.