White Knight Strategic Wealth Advisors LLC bought a new position in The Coca-Cola Company (NYSE:KO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,758 shares of the company's stock, valued at approximately $545,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at approximately $96,000. Kinloch Capital LLC boosted its holdings in shares of Coca-Cola by 2.8% in the fourth quarter. Kinloch Capital LLC now owns 60,581 shares of the company's stock valued at $3,772,000 after acquiring an additional 1,628 shares in the last quarter. Lantern Wealth Advisors LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at approximately $205,000. USS Investment Management Ltd boosted its holdings in shares of Coca-Cola by 2.1% in the fourth quarter. USS Investment Management Ltd now owns 1,104,114 shares of the company's stock valued at $68,770,000 after acquiring an additional 23,208 shares in the last quarter. Finally, Waverly Advisors LLC boosted its holdings in shares of Coca-Cola by 15.7% in the fourth quarter. Waverly Advisors LLC now owns 413,684 shares of the company's stock valued at $25,756,000 after acquiring an additional 56,037 shares in the last quarter. Institutional investors own 70.26% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on KO. DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and raised their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Cfra Research upgraded shares of Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $75.59.
View Our Latest Research Report on Coca-Cola
Coca-Cola Stock Down 0.3%
KO stock opened at $71.69 on Wednesday. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company has a market cap of $308.57 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 3.79 and a beta of 0.47. The company has a 50 day moving average of $70.96 and a two-hundred day moving average of $66.86.
Coca-Cola (NYSE:KO - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The company's revenue was down .7% compared to the same quarter last year. On average, equities analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.
Coca-Cola Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. Coca-Cola's payout ratio is 81.60%.
Insiders Place Their Bets
In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 187,716 shares in the company, valued at $13,491,148.92. This represents a 24.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were 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 owns 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 462,407 shares of company stock worth $32,990,056 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.
About Coca-Cola
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Free Report)
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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