Greatmark Investment Partners Inc. Has $9.86 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Greatmark Investment Partners Inc. lifted its stake in The Coca-Cola Company (NYSE:KO) by 2.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 167,297 shares of the company’s stock after purchasing an additional 3,675 shares during the quarter. Coca-Cola accounts for about 1.5% of Greatmark Investment Partners Inc.’s investment portfolio, making the stock its 25th largest holding. Greatmark Investment Partners Inc.’s holdings in Coca-Cola were worth $9,859,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Investment House LLC boosted its position in Coca-Cola by 3.6% during the 4th quarter. Investment House LLC now owns 24,334 shares of the company’s stock worth $1,434,000 after acquiring an additional 849 shares during the period. Birchcreek Wealth Management LLC boosted its position in Coca-Cola by 12.6% during the 4th quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after acquiring an additional 507 shares during the period. Avaii Wealth Management LLC lifted its holdings in shares of Coca-Cola by 4.0% during the 4th quarter. Avaii Wealth Management LLC now owns 6,145 shares of the company’s stock valued at $362,000 after buying an additional 239 shares during the last quarter. Choreo LLC lifted its holdings in shares of Coca-Cola by 8.6% during the 4th quarter. Choreo LLC now owns 87,753 shares of the company’s stock valued at $5,171,000 after buying an additional 6,930 shares during the last quarter. Finally, McAdam LLC lifted its holdings in shares of Coca-Cola by 2.0% during the 4th quarter. McAdam LLC now owns 10,417 shares of the company’s stock valued at $614,000 after buying an additional 209 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on KO shares. JPMorgan Chase & Co. reduced their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Citigroup raised their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays raised their price objective 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.22.

Insider Activity at Coca-Cola

In other Coca-Cola 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 value of $3,138,000.00. Following the transaction, the executive vice president now owns 143,383 shares of the company’s stock, valued at $8,602,980. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Coca-Cola 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 value of $3,138,000.00. Following the transaction, the executive vice president now owns 143,383 shares of the company’s stock, valued at $8,602,980. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction 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 375,407 shares of company stock valued at $22,795,742 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

KO stock traded up $0.18 during trading on Monday, hitting $61.92. The company had a trading volume of 7,462,792 shares, compared to its average volume of 13,912,842. The company has a fifty day moving average price of $60.12 and a two-hundred day moving average price of $58.89. 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 company has a market cap of $266.95 billion, a P/E ratio of 24.99, a P/E/G ratio of 3.53 and a beta of 0.59. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.69.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. Coca-Cola’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. Equities research analysts expect that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 3.13%. Coca-Cola’s payout ratio is currently 78.23%.

Coca-Cola 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.