The Coca-Cola Company (NYSE:KO) Shares Acquired by Capital Investment Counsel Inc

Capital Investment Counsel Inc lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 136,234 shares of the company’s stock after buying an additional 4,943 shares during the quarter. Coca-Cola accounts for approximately 1.4% of Capital Investment Counsel Inc’s holdings, making the stock its 15th largest holding. Capital Investment Counsel Inc’s holdings in Coca-Cola were worth $8,028,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KO. Insigneo Advisory Services LLC boosted its holdings in Coca-Cola by 12.2% in the third 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 grew its stake in shares of Coca-Cola by 7.6% in the third quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock worth $379,000 after purchasing an additional 476 shares in the last quarter. Wahed Invest LLC increased its holdings in shares of Coca-Cola by 10.3% during the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock valued at $3,435,000 after purchasing an additional 5,707 shares during the period. Cohen Lawrence B increased its holdings in shares of Coca-Cola by 2.8% during the third quarter. Cohen Lawrence B now owns 40,872 shares of the company’s stock valued at $2,288,000 after purchasing an additional 1,111 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Coca-Cola by 3.2% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock valued at $2,738,000 after purchasing an additional 1,455 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE:KO traded down $0.07 during mid-day trading on Monday, hitting $61.67. The company’s stock had a trading volume of 1,829,592 shares, compared to its average volume of 13,839,258. The company has a market capitalization of $265.87 billion, a price-to-earnings ratio of 24.90, a P/E/G ratio of 3.53 and a beta of 0.59. 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 Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.69. The stock has a fifty day moving average of $60.12 and a 200-day moving average of $58.89.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, equities 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 was paid on Monday, April 1st. Investors 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 3.15%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is currently 78.23%.

Insider Buying and Selling

In other news, EVP Beatriz R. Perez sold 52,300 shares of the business’s 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 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 SEC, which is available at this hyperlink. In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the firm’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 transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. 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 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup boosted their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Finally, Barclays upped their price target on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.22.

About Coca-Cola

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.