The Coca-Cola Company (NYSE:KO) Shares Bought by Quadrant Capital Group LLC

Quadrant Capital Group LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.6% during the fourth quarter, Holdings Channel reports. The fund owned 37,112 shares of the company’s stock after acquiring an additional 1,623 shares during the period. Quadrant Capital Group LLC’s holdings in Coca-Cola were worth $2,187,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KO. ZRC Wealth Management LLC grew its position in shares of 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 buying an additional 320 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $30,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Coca-Cola in the 4th quarter valued at $32,000. Financial Connections Group Inc. purchased a new stake in shares of Coca-Cola during the 4th quarter worth $38,000. Finally, Avion Wealth grew its stake in shares of Coca-Cola by 64.8% during the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after purchasing an additional 322 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on KO. UBS Group raised their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Barclays boosted their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI boosted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the business’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 transaction of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were 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 446,577 shares of company stock worth $27,385,816 in the last three months. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO traded down $0.25 during trading on Friday, reaching $63.07. The company’s stock had a trading volume of 5,715,347 shares, compared to its average volume of 13,537,100. The business’s fifty day moving average price is $60.80 and its 200-day moving average price is $59.63. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $63.76. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The firm has a market cap of $271.70 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 3.59 and a beta of 0.57.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

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.