Cary Street Partners Financial LLC Purchases New Position in The Coca-Cola Company (NYSE:KO)

Cary Street Partners Financial LLC acquired a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 118,303 shares of the company's stock, valued at approximately $7,365,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KO. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola in the 4th quarter valued at $27,000. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola in the fourth quarter worth about $31,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola during the fourth quarter worth about $38,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $37,000. Finally, Hoey Investments Inc. increased its holdings in Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after buying an additional 181 shares during the period. Hedge funds and other institutional investors own 70.26% of the company's stock.

Insider Buying and Selling

In other Coca-Cola 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 sale, the chief executive officer now directly owns 342,546 shares of the company's stock, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock valued at $22,263,071 in the last ninety days. Company insiders own 0.97% of the company's stock.

Coca-Cola Trading Up 0.1 %

KO traded up $0.08 on Tuesday, hitting $71.78. The company had a trading volume of 12,691,592 shares, compared to its average volume of 15,442,073. 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 firm has a market cap of $308.90 billion, a P/E ratio of 29.06, a PEG ratio of 3.79 and a beta of 0.47. The company's fifty day moving average price is $70.94 and its 200 day moving average price is $66.59. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38.

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 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 business had revenue of $11.13 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The company's revenue was down .7% on a year-over-year basis. As a group, equities analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

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 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's payout ratio is 81.60%.

Wall Street Analyst Weigh In

Several research firms have recently commented on KO. Wells Fargo & Company upped their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Cfra Research raised Coca-Cola to a "strong-buy" rating in a research report on Tuesday, April 15th. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Evercore ISI raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, UBS Group increased their price target 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. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus 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.