Keel Point LLC Has $1.04 Million Position in The Coca-Cola Company (NYSE:KO)

Keel Point LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,711 shares of the company’s stock after purchasing an additional 1,710 shares during the period. Keel Point LLC’s holdings in Coca-Cola were worth $1,044,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hibernia Wealth Partners LLC acquired a new stake in Coca-Cola during the 3rd quarter worth $25,000. Freedom Wealth Alliance LLC acquired a new stake in Coca-Cola during the 4th quarter worth $25,000. ZRC Wealth Management LLC grew its holdings in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Fortis Capital Advisors LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at $30,000. Finally, KB Financial Partners LLC acquired a new position in shares of Coca-Cola in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.1 %

KO opened at $58.20 on Tuesday. The stock has a market capitalization of $250.91 billion, a P/E ratio of 23.44, a P/E/G ratio of 3.31 and a beta of 0.59. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month high of $64.99. The firm’s fifty day simple moving average is $60.01 and its 200 day simple moving average is $58.51. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $10.80 billion for the quarter, compared to analysts’ expectations of $10.68 billion. During the same period in the previous year, the firm posted $0.45 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate 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. Shareholders of record on Friday, March 15th were given a dividend of $0.485 per share. 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. This represents a $1.94 annualized dividend and a yield of 3.33%. Coca-Cola’s payout ratio is 78.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KO shares. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Citigroup boosted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays boosted their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.18.

Insiders Place Their Bets

In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were 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 directly owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were 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 directly owns 143,383 shares in the company, valued at $8,602,980. The disclosure for this sale can be found here. Insiders have sold 375,407 shares of company stock valued at $22,795,742 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

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.