Arbor Wealth Advisors LLC Purchases New Stake in The Coca-Cola Company (NYSE:KO)

Arbor Wealth Advisors LLC acquired a new position in shares of The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,447 shares of the company’s stock, valued at approximately $439,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morgan Stanley raised its holdings in Coca-Cola by 2.5% during the third quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock worth $4,503,484,000 after purchasing an additional 1,950,146 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Coca-Cola by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after acquiring an additional 2,464,618 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Coca-Cola by 4.8% in the third quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock worth $2,514,234,000 after acquiring an additional 2,040,664 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Coca-Cola by 8.2% in the third quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after acquiring an additional 1,963,963 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Coca-Cola by 16.4% in the fourth quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock worth $813,523,000 after acquiring an additional 1,949,500 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Trading Up 0.1 %

Shares of NYSE:KO traded up $0.09 during midday trading on Tuesday, reaching $60.64. The company’s stock had a trading volume of 13,687,837 shares, compared to its average volume of 13,898,879. The firm has a market cap of $261.43 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 3.44 and a beta of 0.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.99. The business has a 50 day moving average price of $59.98 and a 200 day moving average price of $58.72.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.485 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.20%. Coca-Cola’s dividend payout ratio is presently 78.23%.

Insider Transactions at Coca-Cola

In other news, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was 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 in the company, valued at approximately $8,602,980. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 over the last quarter. Company insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Friday. Barclays boosted their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Finally, Citigroup boosted their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $67.09.

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.