Yoffe Investment Management LLC Buys New Holdings in The Coca-Cola Company (NYSE:KO)

Yoffe Investment Management LLC acquired a new stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,420 shares of the company's stock, valued at approximately $524,000.

Other hedge funds also recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in Coca-Cola during the 4th quarter worth about $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the 4th quarter worth about $31,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Coca-Cola in the 4th quarter worth about $38,000. Hoey Investments Inc. raised its position in shares of Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after acquiring an additional 181 shares in the last quarter. Finally, MilWealth Group LLC bought a new stake in Coca-Cola in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 70.26% of the company's stock.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 54,708 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the sale, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at approximately $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 284,469 shares of company stock valued at $20,356,667. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

KO has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded 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 note on Thursday, January 30th. Morgan Stanley upped their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Barclays restated an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Finally, Cfra Research raised 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, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Coca-Cola presently has a consensus rating of "Buy" and an average target price of $75.81.

Coca-Cola Stock Performance

NYSE KO traded down $0.04 on Tuesday, hitting $71.73. 10,658,148 shares of the company's stock were exchanged, compared to its average volume of 15,711,147. The firm's 50-day moving average price is $71.14 and its two-hundred day moving average price is $67.08. The firm has a market cap 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. 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 fifty-two week low of $60.62 and a fifty-two week high of $74.38.

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

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola's payout ratio is currently 81.60%.

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.