Headlands Technologies LLC Acquires New Holdings in The Coca-Cola Company (NYSE:KO)

Headlands Technologies LLC acquired a new stake in The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 34,855 shares of the company’s stock, valued at approximately $2,054,000. Coca-Cola accounts for about 0.6% of Headlands Technologies LLC’s investment portfolio, making the stock its 28th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Cornerstone Capital Inc. boosted its position in Coca-Cola by 72.1% during the 4th quarter. Cornerstone Capital Inc. now owns 9,635 shares of the company’s stock worth $568,000 after acquiring an additional 4,035 shares during the last quarter. Raab & Moskowitz Asset Management LLC boosted its position in Coca-Cola by 5.3% during the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 42,728 shares of the company’s stock worth $2,518,000 after acquiring an additional 2,157 shares during the last quarter. Kovack Advisors Inc. boosted its position in Coca-Cola by 9.3% during the 4th quarter. Kovack Advisors Inc. now owns 35,020 shares of the company’s stock worth $2,064,000 after acquiring an additional 2,976 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new position in Coca-Cola during the 4th quarter worth approximately $233,000. Finally, Chapman Investment Management LLC acquired a new position in Coca-Cola during the 4th quarter worth approximately $208,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

KO stock opened at $61.74 on Friday. The stock has a market capitalization of $266.17 billion, a price-to-earnings ratio of 24.90, a PEG 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. 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 business’s fifty day moving average price is $60.12 and its two-hundred day moving average price is $58.85.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The company 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 period in the prior year, the firm posted $0.45 EPS. On average, equities analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.485 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Analyst Upgrades and Downgrades

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

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is accessible 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 stock was 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 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 is accessible through this link. Also, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the transaction, the executive vice president now owns 143,383 shares of the company’s stock, 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 over the last ninety days. 0.97% of the stock is owned by corporate insiders.

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.