Procyon Advisors LLC Has $5.54 Million Position in The Coca-Cola Company (NYSE:KO)

Procyon Advisors LLC boosted its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 9.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,373 shares of the company's stock after acquiring an additional 6,534 shares during the period. Procyon Advisors LLC's holdings in Coca-Cola were worth $5,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in Coca-Cola during the 4th quarter worth approximately $3,402,151,000. Capital International Investors increased its position in Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock worth $1,553,337,000 after buying an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock worth $4,617,400,000 after buying an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Coca-Cola in the fourth quarter valued at about $500,192,000. Finally, Franklin Resources Inc. increased its position in Coca-Cola by 21.9% during the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after acquiring an additional 6,118,819 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares of the company's stock, valued at approximately $3,749,745.02. The trade was a 32.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 440,664 shares of company stock worth $31,730,532 over the last quarter. Company insiders own 0.97% of the company's stock.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $70.89 on Friday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The firm has a market cap of $305.11 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46. The firm's fifty day moving average is $71.40 and its 200-day moving average is $67.51.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. Sell-side analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current 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 paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is presently 81.60%.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised 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. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Thursday, February 13th. Evercore ISI increased 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. Royal Bank of Canada boosted their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. 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 research report on Wednesday, April 30th. Two research 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.com, the company has an average rating of "Buy" and an average price target of $75.81.

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.

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