Quarry LP Invests $479,000 in The Coca-Cola Company (NYSE:KO)

Quarry LP acquired a new stake in The Coca-Cola Company (NYSE:KO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,695 shares of the company's stock, valued at approximately $479,000.

Several other institutional investors have also recently modified their holdings of KO. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola in the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new stake in Coca-Cola during the fourth quarter valued at $31,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola in the fourth quarter valued at $37,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Coca-Cola in the fourth quarter worth about $38,000. Finally, Hoey Investments Inc. boosted its stake in shares of Coca-Cola by 41.9% during 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. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 1.0 %

NYSE:KO traded down $0.76 during trading hours on Thursday, hitting $71.79. The stock had a trading volume of 7,755,600 shares, compared to its average volume of 18,387,326. The business has a 50 day simple moving average of $70.88 and a two-hundred day simple moving average of $66.58. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year 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. The company has a market cap of $308.96 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating 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 company had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period last year, the firm earned $0.72 earnings per share. The company's revenue was down .7% on a year-over-year basis. Analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 14th. Coca-Cola's dividend payout ratio is 81.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. UBS Group upped their price target on Coca-Cola from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday. Jefferies Financial Group upgraded Coca-Cola from a "hold" rating to a "buy" rating and increased their target price for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Barclays restated an "overweight" rating on shares of Coca-Cola in a research report on Thursday, March 27th. Royal Bank of Canada raised their target price on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, Cfra Research upgraded Coca-Cola to a "strong-buy" rating in a research 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $75.59.

Insider Transactions at Coca-Cola

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares of the company's stock, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the business's stock in a transaction 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 transaction, the insider now directly 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by insiders.

Coca-Cola Company 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.