Armis Advisers LLC Buys Shares of 17,288 The Coca-Cola Company (NYSE:KO)

Armis Advisers LLC acquired a new stake in The Coca-Cola Company (NYSE:KO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,288 shares of the company's stock, valued at approximately $1,076,000.

Other large investors have also bought and sold shares of the company. Voleon Capital Management LP bought a new position in shares of Coca-Cola during the 4th quarter valued at about $2,513,000. Rice Partnership LLC grew its holdings in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock worth $6,397,000 after acquiring an additional 6,793 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Coca-Cola by 62.2% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 26,708 shares of the company's stock worth $1,663,000 after acquiring an additional 10,240 shares in the last quarter. Lockheed Martin Investment Management Co. lifted its stake in shares of Coca-Cola by 16.3% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 218,985 shares of the company's stock valued at $13,634,000 after purchasing an additional 30,650 shares during the period. Finally, abrdn plc lifted its position in Coca-Cola by 0.3% during the fourth quarter. abrdn plc now owns 7,238,640 shares of the company's stock valued at $447,963,000 after buying an additional 22,904 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Down 0.1%

NYSE KO traded down $0.04 on Tuesday, hitting $71.73. 10,658,148 shares of the stock were exchanged, compared to its average volume of 15,711,147. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company's 50-day moving average price is $71.14 and its two-hundred day moving average price is $67.08. The company has a market capitalization of $308.75 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results 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 net margin of 22.59% and a return on equity of 45.37%. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the prior year, the firm earned $0.72 EPS. The business's revenue was down .7% on a year-over-year basis. Research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The business 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 dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. Coca-Cola's dividend payout ratio (DPR) is presently 81.60%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Piper Sandler boosted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and upped their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Barclays reissued an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. upped their price target on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has a consensus rating of "Buy" and a consensus price target of $75.81.

Insider Buying and Selling at Coca-Cola

In other news, insider Nikolaos Koumettis sold 55,500 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,533,008.09. This represents a 18.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 284,469 shares of company stock worth $20,356,667 over the last three months. Company insiders own 0.97% of the company's stock.

About Coca-Cola

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.