Patrick M Sweeney & Associates Inc. Makes New $410,000 Investment in The Coca-Cola Company (NYSE:KO)

Patrick M Sweeney & Associates Inc. bought a new position in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, Holdings Channel.com reports. The firm bought 6,963 shares of the company’s stock, valued at approximately $410,000.

A number of other institutional investors have also recently made changes to their positions in KO. Pennsylvania Capital Management Inc. ADV acquired a new position in shares of Coca-Cola in the 3rd quarter valued at about $207,000. FORVIS Wealth Advisors LLC lifted its stake in Coca-Cola by 49.7% in the third quarter. FORVIS Wealth Advisors LLC now owns 70,116 shares of the company’s stock valued at $3,925,000 after buying an additional 23,270 shares during the period. WESPAC Advisors LLC boosted its holdings in shares of Coca-Cola by 0.8% during the 3rd quarter. WESPAC Advisors LLC now owns 32,679 shares of the company’s stock worth $1,829,000 after buying an additional 255 shares in the last quarter. Calamos Advisors LLC grew its position in shares of Coca-Cola by 0.6% during the 3rd quarter. Calamos Advisors LLC now owns 1,272,577 shares of the company’s stock worth $71,239,000 after buying an additional 7,966 shares during the period. Finally, Access Financial Services Inc. increased its stake in shares of Coca-Cola by 3.9% in the 3rd quarter. Access Financial Services Inc. now owns 27,728 shares of the company’s stock valued at $1,552,000 after acquiring an additional 1,035 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on KO shares. Citigroup raised their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Evercore ISI upped their price target on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Barclays increased their price target on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. upped their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, UBS Group lifted their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.27.

Coca-Cola Stock Up 0.4 %

Shares of KO stock traded up $0.23 on Wednesday, hitting $62.85. The stock had a trading volume of 10,435,028 shares, compared to its average volume of 13,880,718. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The business has a 50 day moving average of $60.32 and a 200 day moving average of $59.30. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.25. The stock has a market cap of $270.75 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57.

Coca-Cola (NYSE:KO) last posted 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 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts expect that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.09%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $61.99, for a total value of $3,551,903.02. Following the transaction, the executive vice president now directly owns 167,107 shares in the company, valued at approximately $10,358,962.93. The disclosure for this sale can be found here. Insiders sold 380,405 shares of company stock worth $23,209,645 in the last quarter. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Company 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.