The Coca-Cola Company (NYSE:KO) Stake Raised by Meritage Portfolio Management

Meritage Portfolio Management raised its position in shares of The Coca-Cola Company (NYSE:KO) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,267 shares of the company’s stock after purchasing an additional 4,022 shares during the period. Meritage Portfolio Management’s holdings in Coca-Cola were worth $4,730,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bailard Inc. grew its holdings in Coca-Cola by 17.2% in the 4th quarter. Bailard Inc. now owns 120,658 shares of the company’s stock valued at $7,110,000 after buying an additional 17,664 shares during the last quarter. BIP Wealth LLC grew its holdings in shares of Coca-Cola by 1.1% during the 4th quarter. BIP Wealth LLC now owns 34,456 shares of the company’s stock worth $2,031,000 after purchasing an additional 382 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Coca-Cola by 5.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 91,941 shares of the company’s stock worth $5,418,000 after purchasing an additional 4,720 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Coca-Cola by 17.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 3,393 shares of the company’s stock worth $200,000 after purchasing an additional 495 shares in the last quarter. Finally, Wynn Capital LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $1,198,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Barclays raised their target price on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Citigroup raised their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.09.

Insider Activity

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

Coca-Cola Trading Up 0.3 %

Shares of Coca-Cola stock traded up $0.19 during trading on Thursday, reaching $61.74. 19,022,088 shares of the company were exchanged, compared to its average volume of 14,033,627. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.69. The business has a 50-day moving average price of $60.02 and a 200-day moving average price of $58.74. The firm has a market capitalization of $266.17 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 3.46 and a beta of 0.59.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping 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 earned $0.45 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was 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.