Tidal Investments LLC Has $12.16 Million Position in The Coca-Cola Company (NYSE:KO)

Tidal Investments LLC grew its position in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 30.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 195,228 shares of the company's stock after buying an additional 45,372 shares during the quarter. Tidal Investments LLC's holdings in Coca-Cola were worth $12,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in KO. Tallon Kerry Patrick bought a new position in Coca-Cola in the 4th quarter worth approximately $241,000. Merit Financial Group LLC increased its position in Coca-Cola by 11.9% in the 4th quarter. Merit Financial Group LLC now owns 99,793 shares of the company's stock worth $6,213,000 after buying an additional 10,632 shares during the period. Premier Path Wealth Partners LLC increased its position in Coca-Cola by 5.2% in the 4th quarter. Premier Path Wealth Partners LLC now owns 13,300 shares of the company's stock worth $828,000 after buying an additional 652 shares during the period. Ameritas Advisory Services LLC increased its position in Coca-Cola by 1.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 61,322 shares of the company's stock worth $3,818,000 after buying an additional 1,166 shares during the period. Finally, Krilogy Financial LLC increased its position in Coca-Cola by 6.7% in the 4th quarter. Krilogy Financial LLC now owns 10,964 shares of the company's stock worth $683,000 after buying an additional 690 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on KO shares. Royal Bank of Canada lifted their price target on Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Morgan Stanley boosted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and increased their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Two 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 data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $75.59.

Coca-Cola Trading Down 0.3%

Coca-Cola stock traded down $0.24 during mid-day trading on Tuesday, hitting $71.69. The stock had a trading volume of 12,135,976 shares, compared to its average volume of 15,662,710. The stock has a 50-day simple moving average of $70.96 and a two-hundred day simple moving average of $66.86. The stock has a market capitalization of $308.57 billion, a PE ratio of 29.02, a P/E/G ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion for the quarter, compared to analysts' expectations of $11.23 billion. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is 81.60%.

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the 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 transaction, the executive vice president now owns 187,716 shares of the company's stock, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 462,407 shares of company stock worth $32,990,056 over the last 90 days. Insiders own 0.90% 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.