NorthRock Partners LLC Buys 31,759 Shares of The Coca-Cola Company (NYSE:KO)

NorthRock Partners LLC grew its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 188.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,646 shares of the company's stock after purchasing an additional 31,759 shares during the period. NorthRock Partners LLC's holdings in Coca-Cola were worth $3,029,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of KO. Fiduciary Alliance LLC increased its holdings in Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company's stock valued at $1,132,000 after buying an additional 8,499 shares during the period. Brookstone Capital Management boosted its position in shares of Coca-Cola by 36.3% during the 4th quarter. Brookstone Capital Management now owns 111,063 shares of the company's stock valued at $6,915,000 after acquiring an additional 29,605 shares in the last quarter. Cooper Financial Group increased its stake in Coca-Cola by 9.4% in the fourth quarter. Cooper Financial Group now owns 17,070 shares of the company's stock valued at $1,063,000 after acquiring an additional 1,472 shares during the period. PFW Advisors LLC bought a new stake in Coca-Cola in the fourth quarter valued at about $29,003,000. Finally, BCS Wealth Management acquired a new position in Coca-Cola in the fourth quarter worth about $629,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the company'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 completion of the transaction, the insider now owns 246,909 shares of the company's stock, valued at approximately $17,520,662.64. This trade represents a 18.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 462,407 shares of company stock valued at $32,990,056. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Stock Up 3.4%

Shares of Coca-Cola stock traded up $2.34 on Thursday, reaching $71.50. 19,798,106 shares of the company were exchanged, compared to its average volume of 15,618,335. The company has a market capitalization of $307.76 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 3.79 and a beta of 0.47. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The company has a 50-day moving average of $70.86 and a 200 day moving average of $66.72.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $11.23 billion. During the same period last year, the firm posted $0.72 EPS. The firm's revenue for the quarter was down .7% compared to the same quarter last year. On average, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm 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 dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. Coca-Cola's payout ratio is presently 81.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KO shares. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a research note on Thursday, March 27th. DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Morgan Stanley boosted their target price on shares of 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 upped their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $75.59.

Coca-Cola 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.