Armis Advisers LLC Invests $1.08 Million in The Coca-Cola Company (NYSE:KO)

Armis Advisers LLC acquired a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,288 shares of the company's stock, valued at approximately $1,076,000.

Several other institutional investors also recently bought and sold shares of KO. Tallon Kerry Patrick acquired a new position in Coca-Cola during the fourth quarter worth $241,000. Brighton Jones LLC increased its stake in Coca-Cola by 13.3% in the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company's stock valued at $2,433,000 after purchasing an additional 4,591 shares during the period. LexAurum Advisors LLC increased its position in shares of Coca-Cola by 21.5% in the fourth quarter. LexAurum Advisors LLC now owns 6,343 shares of the company's stock valued at $395,000 after buying an additional 1,122 shares in the last quarter. Sound Income Strategies LLC increased its position in Coca-Cola by 16.4% during the 4th quarter. Sound Income Strategies LLC now owns 9,994 shares of the company's stock worth $622,000 after purchasing an additional 1,408 shares in the last quarter. Finally, Gradient Investments LLC grew its holdings in Coca-Cola by 10.7% in the 4th quarter. Gradient Investments LLC now owns 505,386 shares of the company's stock valued at $31,465,000 after buying an additional 48,664 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley increased their target price on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Piper Sandler boosted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Barclays reissued an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Finally, Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and increased their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Coca-Cola has a consensus rating of "Buy" and an average target price of $75.81.

Coca-Cola Stock Up 0.3%

KO traded up $0.22 during trading on Thursday, reaching $71.37. 5,079,870 shares of the stock were exchanged, compared to its average volume of 15,655,386. The stock has a market cap of $307.17 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock's 50 day moving average price is $71.23 and its two-hundred day moving average price is $67.14. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the firm earned $0.72 EPS. The firm's revenue was down .7% compared to the same quarter last year. Equities analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 2.86%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's payout ratio is presently 81.60%.

Insiders Place Their Bets

In other news, COO Henrique Braun sold 25,277 shares of the 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 completion of the transaction, the chief operating officer now directly owns 52,466 shares of the company's stock, valued at $3,749,745.02. This represents a 32.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 55,500 shares of the firm'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 completion of the transaction, the insider now owns 246,909 shares of the company's stock, valued at $17,533,008.09. This trade represents a 18.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 229,761 shares of company stock valued at $16,474,587. 0.97% of the stock is currently owned by corporate insiders.

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.