Scissortail Wealth Management LLC Increases Position in The Coca-Cola Company (NYSE:KO)

Scissortail Wealth Management LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 20,077.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,632 shares of the company's stock after buying an additional 3,614 shares during the quarter. Scissortail Wealth Management LLC's holdings in Coca-Cola were worth $226,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola during the 4th quarter valued at about $27,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola during the 4th quarter valued at about $31,000. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola during the 4th quarter valued at about $38,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola during the 4th quarter valued at about $37,000. Finally, Hoey Investments Inc. grew its stake in Coca-Cola by 41.9% during the 4th 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 owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $72.01 on Friday. The company's fifty day moving average price is $70.88 and its 200 day moving average price is $66.76. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. 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 firm has a market capitalization of $309.93 billion, a P/E ratio of 29.15, a P/E/G ratio of 3.79 and a beta of 0.47.

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

Coca-Cola Announces Dividend

The firm also recently disclosed 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. This represents a $2.04 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola's payout ratio is currently 81.60%.

Insiders Place Their Bets

In other news, CEO James Quincey sold 145,435 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 462,407 shares of company stock valued at $32,990,056. Insiders own 0.97% of the company's stock.

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. UBS Group upped their price objective on shares of Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Jefferies Financial Group raised shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Morgan Stanley increased their price target 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. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. 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 research note on Thursday, February 13th. 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.com, the stock has an average rating of "Buy" and a consensus target price of $75.59.

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.

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