Tributary Capital Management LLC Makes New Investment in CocaCola Company (The) (NYSE:KO)

Tributary Capital Management LLC acquired a new stake in shares of CocaCola Company (The) (NYSE:KO - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,600 shares of the company's stock, valued at approximately $688,000.

Other large investors have also recently added to or reduced their stakes in the company. Sage Financial Management Group Inc. bought a new position in CocaCola during the 1st quarter valued at $216,000. Voleon Capital Management LP acquired a new stake in shares of CocaCola during the fourth quarter worth $2,513,000. Cornerstone Wealth Management LLC raised its holdings in shares of CocaCola by 3.3% during the first quarter. Cornerstone Wealth Management LLC now owns 121,279 shares of the company's stock worth $8,686,000 after purchasing an additional 3,920 shares during the period. Clark Capital Management Group Inc. raised its holdings in shares of CocaCola by 31.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 848,868 shares of the company's stock worth $52,851,000 after purchasing an additional 204,681 shares during the period. Finally, StoneX Group Inc. raised its holdings in shares of CocaCola by 80.0% during the fourth quarter. StoneX Group Inc. now owns 51,775 shares of the company's stock worth $3,224,000 after purchasing an additional 23,009 shares during the period. 70.26% of the stock is currently owned by institutional investors.

CocaCola Price Performance

Shares of NYSE:KO traded down $0.71 on Friday, hitting $69.88. The stock had a trading volume of 14,904,122 shares, compared to its average volume of 16,389,361. The firm's 50 day moving average price is $70.73 and its 200-day moving average price is $69.01. The company has a market capitalization of $300.78 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 3.63 and a beta of 0.45. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.10. CocaCola Company has a twelve month low of $60.62 and a twelve month high of $74.38.

CocaCola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. CocaCola had a net margin of 23.00% and a return on equity of 45.49%. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts predict that CocaCola Company will post 2.96 earnings per share for the current year.

CocaCola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.51 per share. The ex-dividend date is Monday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 2.92%. CocaCola's payout ratio is presently 81.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KO. JPMorgan Chase & Co. increased their target price on shares of CocaCola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Barclays reaffirmed an "overweight" rating on shares of CocaCola in a research note on Thursday, March 27th. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective on shares of CocaCola in a research note on Monday, June 9th. UBS Group lifted their price objective on shares of CocaCola from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, April 30th. Finally, Royal Bank Of Canada raised their target price on shares of CocaCola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $76.71.

Insider Activity

In other news, EVP Beatriz R. Perez sold 60,326 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president directly owned 187,716 shares of the company's stock, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer directly owned 205,511 shares of the company's stock, valued at approximately $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,387 shares of company stock valued at $29,923,985 in the last ninety days. 0.97% of the stock is owned by insiders.

CocaCola 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.