Ellsworth Advisors LLC Buys 1,551 Shares of The Coca-Cola Company (NYSE:KO)

Ellsworth Advisors LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,087 shares of the company’s stock after buying an additional 1,551 shares during the quarter. Coca-Cola accounts for about 1.4% of Ellsworth Advisors LLC’s investment portfolio, making the stock its 26th largest position. Ellsworth Advisors LLC’s holdings in Coca-Cola were worth $4,425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Insigneo Advisory Services LLC raised its position in Coca-Cola by 12.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after purchasing an additional 4,527 shares during the last quarter. HF Advisory Group LLC boosted its position in shares of Coca-Cola by 7.6% during the third quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock worth $379,000 after buying an additional 476 shares during the period. Wahed Invest LLC raised its holdings in Coca-Cola by 10.3% during the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after acquiring an additional 5,707 shares in the last quarter. Tucker Asset Management LLC raised its holdings in Coca-Cola by 110.4% during the second quarter. Tucker Asset Management LLC now owns 9,052 shares of the company’s stock worth $545,000 after acquiring an additional 4,749 shares in the last quarter. Finally, Cohen Lawrence B raised its holdings in Coca-Cola by 2.8% during the third quarter. Cohen Lawrence B now owns 40,872 shares of the company’s stock worth $2,288,000 after acquiring an additional 1,111 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on KO shares. JPMorgan Chase & Co. increased their target price on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Barclays lifted their target price on Coca-Cola from $60.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Finally, Citigroup boosted their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $67.00.

Insider Buying and Selling

In related news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the transaction, the executive vice president now directly owns 143,383 shares in the company, valued at $8,602,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,407 shares of company stock worth $22,795,742. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.2 %

Shares of KO traded up $0.15 during mid-day trading on Friday, hitting $61.18. The company’s stock had a trading volume of 13,683,528 shares, compared to its average volume of 14,604,461. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.99. The company’s 50-day moving average is $60.06 and its 200-day moving average is $58.32. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $263.76 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 3.46 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $10.80 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the previous year, the firm earned $0.45 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.17%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, March 14th. Coca-Cola’s payout ratio is 78.23%.

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.