Trust Point Inc. Purchases New Position in The Coca-Cola Company (NYSE:KO)

Trust Point Inc. purchased a new stake in The Coca-Cola Company (NYSE:KOFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 30,002 shares of the company’s stock, valued at approximately $1,768,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in KO. Fairfield Bush & CO. acquired a new position in shares of Coca-Cola during the 1st quarter worth approximately $77,000. Merit Financial Group LLC boosted its position in shares of Coca-Cola by 16.7% during the 1st quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock worth $758,000 after acquiring an additional 1,754 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Coca-Cola by 41.4% during the 1st quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock worth $9,255,000 after acquiring an additional 43,680 shares in the last quarter. Ergoteles LLC boosted its position in shares of Coca-Cola by 385.3% during the 1st quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock worth $1,180,000 after acquiring an additional 15,110 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Coca-Cola by 11.9% in the 1st quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock valued at $176,115,000 after purchasing an additional 301,804 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on KO. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Barclays increased their price objective on shares of Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, Citigroup increased their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Check Out Our Latest Analysis on KO

Coca-Cola Trading Up 0.2 %

Shares of KO stock traded up $0.11 during trading hours on Wednesday, hitting $60.26. 3,876,186 shares of the company’s stock traded hands, compared to its average volume of 13,971,625. The stock’s 50 day simple moving average is $60.13 and its 200 day simple moving average is $58.39. The stock has a market cap of $259.79 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 3.44 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 company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KOGet Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping 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 company had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same period in the prior year, the company posted $0.45 earnings per share. Coca-Cola’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.485 per share. The ex-dividend date 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 dividend yield of 3.22%. Coca-Cola’s dividend payout ratio is 78.23%.

Insider Transactions at Coca-Cola

In other 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 transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Insiders sold a total of 375,407 shares of company stock worth $22,795,742 over the last three months. 0.97% of the stock is owned by company insiders.

Coca-Cola Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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