Parvin Asset Management LLC Takes Position in The Coca-Cola Company (NYSE:KO)

Parvin Asset Management LLC acquired a new stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,895 shares of the company's stock, valued at approximately $305,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $37,000. Murphy & Mullick Capital Management Corp acquired a new stake in Coca-Cola in the fourth quarter valued at approximately $38,000. Finally, Hoey Investments Inc. boosted its stake in Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock valued at $38,000 after acquiring an additional 181 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KO. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a report on Tuesday, April 15th. Morgan Stanley raised their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Evercore ISI raised their price target 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Finally, DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $75.06.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 19,058 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Henrique Braun sold 25,277 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

Shares of KO stock opened at $72.37 on Wednesday. The company has a market capitalization of $311.45 billion, a P/E ratio of 29.30, a P/E/G ratio of 3.79 and a beta of 0.45. The business's 50 day moving average is $70.86 and its two-hundred day moving average is $66.53. 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 12-month low of $60.62 and a 12-month high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly 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. The company 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%. Coca-Cola's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 earnings per share. Analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.82%. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio is currently 82.59%.

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.

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