Overbrook Management Corp Raises Stock Position in The Coca-Cola Company (NYSE:KO)

Overbrook Management Corp grew its stake in The Coca-Cola Company (NYSE:KO) by 9.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,180 shares of the company’s stock after buying an additional 700 shares during the quarter. Overbrook Management Corp’s holdings in Coca-Cola were worth $482,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Enterprise Bank & Trust Co lifted its holdings in Coca-Cola by 3.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after purchasing an additional 167 shares in the last quarter. Elk River Wealth Management LLC increased its stake in shares of Coca-Cola by 1.6% in the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after acquiring an additional 170 shares during the last quarter. KRS Capital Management LLC increased its stake in shares of Coca-Cola by 3.8% in the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after acquiring an additional 170 shares during the last quarter. Wayfinding Financial LLC increased its stake in shares of Coca-Cola by 1.8% in the 4th quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock worth $573,000 after acquiring an additional 175 shares during the last quarter. Finally, John G Ullman & Associates Inc. increased its stake in shares of Coca-Cola by 2.2% in the 4th quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock worth $476,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO opened at $61.74 on Friday. The company has a market cap of $266.17 billion, a P/E ratio of 24.90, a P/E/G ratio of 3.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a 50-day moving average of $60.12 and a two-hundred day moving average of $58.82. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.69.

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

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio (DPR) is presently 78.23%.

Insider Activity

In other news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The disclosure for this sale can be found here. In the last quarter, insiders sold 375,407 shares of company stock worth $22,795,742. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on KO shares. 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 note on Friday, April 19th. Barclays raised their price objective 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 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.22.

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.