The Coca-Cola Company (NYSE:KO) Stock Position Increased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC increased its position in The Coca-Cola Company (NYSE:KO) by 0.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 644,156 shares of the company’s stock after acquiring an additional 3,779 shares during the period. CIBC Private Wealth Group LLC’s holdings in Coca-Cola were worth $39,751,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola during the 4th quarter valued at $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $31,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola during the fourth quarter valued at $37,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Coca-Cola in the 4th quarter valued at $38,000. Finally, MilWealth Group LLC purchased a new position in Coca-Cola in the 4th quarter worth about $40,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Down 0.5 %

Coca-Cola stock opened at $70.36 on Monday. The company has a market capitalization of $302.80 billion, a P/E ratio of 28.49, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The firm’s fifty day simple moving average is $67.77 and its 200-day simple moving average is $66.38. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Sell-side analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 2.90%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Transactions at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. The trade was a 12.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by insiders.

Analyst Ratings Changes

KO has been the subject of a number of analyst reports. Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Barclays lifted their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Thursday, February 13th. Finally, Morgan Stanley lifted their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

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.