Trust Point Inc. Purchases Shares of 30,002 The Coca-Cola Company (NYSE:KO)

Trust Point Inc. acquired a new stake in The Coca-Cola Company (NYSE:KOFree Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,002 shares of the company’s stock, valued at approximately $1,768,000.

Other hedge funds have also modified their holdings of the company. Freedom Wealth Alliance LLC acquired a new position in shares of Coca-Cola in the fourth quarter valued at about $25,000. Hibernia Wealth Partners LLC acquired a new stake in Coca-Cola during the third quarter worth about $25,000. ZRC Wealth Management LLC grew its holdings in Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Fortis Capital Advisors LLC acquired a new stake in Coca-Cola during the fourth quarter worth about $30,000. Finally, KB Financial Partners LLC purchased a new position in shares of Coca-Cola in the first quarter valued at approximately $31,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

View Our Latest Stock Report on KO

Coca-Cola Trading Up 0.2 %

Shares of NYSE KO traded up $0.11 during trading on Wednesday, reaching $60.26. The stock had a trading volume of 3,876,186 shares, compared to its average volume of 13,971,625. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The business’s 50-day moving average price is $60.13 and its 200-day moving average price is $58.39. The company has a market cap of $259.79 billion, a P/E ratio of 24.34, a PEG ratio of 3.44 and a beta of 0.59.

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

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.22%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s payout ratio is presently 78.23%.

Insider Buying and Selling

In related news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 in the last three months. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KOFree Report).

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.