Callan Capital LLC Makes New $224,000 Investment in The Coca-Cola Company (NYSE:KO)

Callan Capital LLC acquired a new position in shares of The Coca-Cola Company (NYSE:KO) in the 4th quarter, HoldingsChannel reports. The fund acquired 3,793 shares of the company’s stock, valued at approximately $224,000.

Several other institutional investors also recently bought and sold shares of KO. ZRC Wealth Management LLC lifted 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 purchasing an additional 320 shares in the last quarter. Criterion Capital Advisors LLC acquired a new position in shares of Coca-Cola during the fourth quarter worth $30,000. Financial Connections Group Inc. acquired a new position in shares of Coca-Cola during the fourth quarter worth $38,000. Avion Wealth lifted its position 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. Finally, Clear Investment Research LLC lifted its position in shares of Coca-Cola by 36.1% during the third quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after purchasing an additional 246 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

KO remained flat at $61.74 on Friday. 10,994,262 shares of the company were exchanged, compared to its average volume of 12,842,353. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.69. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a 50 day moving average of $60.12 and a two-hundred day moving average of $58.82. The stock has a market cap of $266.17 billion, a P/E ratio of 24.90, a P/E/G ratio of 3.53 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share 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 company had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the firm posted $0.45 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts predict that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The firm 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. 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 dividend yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Analysts Set New Price Targets

KO has been the topic of several recent analyst reports. Citigroup upped 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. JPMorgan Chase & Co. dropped their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Finally, Barclays upped their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.22.

Insider Activity

In other Coca-Cola news, 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 value of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, 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 stock was 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. In the last quarter, insiders sold 375,407 shares of company stock worth $22,795,742. Corporate insiders own 0.97% of the company’s stock.

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.