Vision Financial Markets LLC Takes Position in The Coca-Cola Company (NYSE:KO)

Vision Financial Markets LLC acquired a new stake in The Coca-Cola Company (NYSE:KO) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 5,150 shares of the company’s stock, valued at approximately $321,000.

A number of other hedge funds also recently made changes to their positions in the business. Cullen Frost Bankers Inc. lifted its holdings in Coca-Cola by 2.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 639,477 shares of the company’s stock worth $39,814,000 after purchasing an additional 16,148 shares during the last quarter. Arizona State Retirement System lifted its holdings in Coca-Cola by 1.3% during the 4th quarter. Arizona State Retirement System now owns 1,188,370 shares of the company’s stock worth $73,988,000 after purchasing an additional 14,934 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Coca-Cola by 8.0% in the 4th quarter. Verdence Capital Advisors LLC now owns 51,272 shares of the company’s stock valued at $3,192,000 after acquiring an additional 3,778 shares in the last quarter. Sound Financial Strategies Group LLC raised its holdings in Coca-Cola by 15.3% in the 4th quarter. Sound Financial Strategies Group LLC now owns 13,620 shares of the company’s stock valued at $848,000 after acquiring an additional 1,811 shares in the last quarter. Finally, Aigen Investment Management LP raised its holdings in Coca-Cola by 504.4% in the 4th quarter. Aigen Investment Management LP now owns 78,364 shares of the company’s stock valued at $4,879,000 after acquiring an additional 65,399 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KO shares. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Wells Fargo & Company lifted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Morgan Stanley boosted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Activity at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,646 shares of company stock worth $16,515,469. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

KO stock opened at $70.17 on Thursday. The firm has a market cap of $301.78 billion, a PE ratio of 28.41, a P/E/G ratio of 3.79 and a beta of 0.61. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The business has a 50 day moving average of $65.02 and a 200-day moving average of $66.55. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.91%. Coca-Cola’s dividend payout ratio is presently 82.59%.

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.