Choreo LLC Acquires 6,930 Shares of The Coca-Cola Company (NYSE:KO)

Choreo LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,753 shares of the company’s stock after acquiring an additional 6,930 shares during the period. Choreo LLC’s holdings in Coca-Cola were worth $5,171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KO. ZRC Wealth Management LLC raised its stake in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the period. Criterion Capital Advisors LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $30,000. Financial Connections Group Inc. acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Avion Wealth raised its stake in Coca-Cola by 64.8% in the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after acquiring an additional 322 shares during the period. Finally, Clear Investment Research LLC lifted its holdings in Coca-Cola by 36.1% during the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock valued at $52,000 after purchasing an additional 246 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Citigroup lifted their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays boosted their price target on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Two research 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, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $67.22.

Coca-Cola Stock Performance

Coca-Cola stock opened at $62.04 on Tuesday. The stock has a market cap of $267.47 billion, a PE ratio of 25.02, a P/E/G ratio of 3.53 and a beta of 0.59. 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 12-month low of $51.55 and a 12-month high of $64.69. The business’s 50-day moving average price is $60.17 and its two-hundred day moving average price is $58.96.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed 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 yield of 3.13%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Insider Buying and Selling

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on 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 directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders have sold a total of 323,107 shares of company stock worth $19,657,742 in the last ninety days. Company insiders own 0.97% of the company’s stock.

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.