Bridgeway Capital Management LLC Buys 4,767 Shares of The Coca-Cola Company (NYSE:KO)

Bridgeway Capital Management LLC lifted its position in The Coca-Cola Company (NYSE:KO - Free Report) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 296,156 shares of the company's stock after purchasing an additional 4,767 shares during the quarter. Bridgeway Capital Management LLC's holdings in Coca-Cola were worth $18,439,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. CWA Asset Management Group LLC increased its position in shares of Coca-Cola by 16.2% in the fourth quarter. CWA Asset Management Group LLC now owns 19,407 shares of the company's stock valued at $1,208,000 after buying an additional 2,706 shares in the last quarter. Burkett Financial Services LLC grew its holdings in shares of Coca-Cola by 4.1% during the 4th quarter. Burkett Financial Services LLC now owns 5,572 shares of the company's stock worth $347,000 after purchasing an additional 221 shares during the period. Neville Rodie & Shaw Inc. lifted its holdings in shares of Coca-Cola by 12.7% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 60,035 shares of the company's stock valued at $3,738,000 after acquiring an additional 6,760 shares in the last quarter. Capital Market Strategies LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at about $202,000. Finally, Canandaigua National Trust Co of Florida increased its stake in Coca-Cola by 34.5% during the 4th quarter. Canandaigua National Trust Co of Florida now owns 6,244 shares of the company's stock worth $389,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Insiders Place Their Bets

In other news, CEO James Quincey sold 145,435 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Henrique Braun sold 25,277 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This represents a 32.51 % 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 over the last quarter. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.70 during midday trading on Wednesday, hitting $72.42. The stock had a trading volume of 15,017,468 shares, compared to its average volume of 15,462,934. The company has a market capitalization of $311.66 billion, a PE ratio of 29.32, a P/E/G ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The stock has a 50 day simple moving average of $70.96 and a 200-day simple moving average of $66.63. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

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

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's dividend payout ratio (DPR) is currently 81.60%.

Analyst Upgrades and Downgrades

KO has been the topic of several recent research reports. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Cfra Research raised Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and increased their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada raised their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of "Buy" and a consensus target price of $75.59.

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.