HighPoint Advisor Group LLC Makes New $4.58 Million Investment in The Coca-Cola Company (NYSE:KO)

HighPoint Advisor Group LLC bought a new stake in shares of The Coca-Cola Company (NYSE:KOFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 75,779 shares of the company’s stock, valued at approximately $4,577,000.

Other institutional investors have also added to or reduced their stakes in the company. Enterprise Bank & Trust Co boosted its holdings in Coca-Cola by 3.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after acquiring an additional 167 shares during the period. Goelzer Investment Management Inc. grew its holdings in Coca-Cola by 1.8% during the 4th quarter. Goelzer Investment Management Inc. now owns 9,681 shares of the company’s stock valued at $571,000 after purchasing an additional 169 shares in the last quarter. Elk River Wealth Management LLC increased its stake in Coca-Cola by 1.6% during the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after buying an additional 170 shares during the period. KRS Capital Management LLC lifted its holdings in Coca-Cola by 3.8% in the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after buying an additional 170 shares in the last quarter. Finally, Wayfinding Financial LLC boosted its position in Coca-Cola by 1.8% in the 4th quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after buying an additional 175 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Coca-Cola stock traded up $0.07 during mid-day trading on Tuesday, reaching $62.69. The company had a trading volume of 776,622 shares, compared to its average volume of 12,966,822. The company has a 50 day moving average of $61.92 and a 200-day moving average of $60.51. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The firm has a market cap of $270.07 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.53 and a beta of 0.59. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.36.

Coca-Cola (NYSE:KOGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. On average, sell-side analysts expect that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is 77.60%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley lifted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Evercore ISI boosted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Argus raised their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Finally, UBS Group increased their price target on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.55.

Read Our Latest Stock Analysis on Coca-Cola

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now owns 33,638 shares of the company’s stock, valued at approximately $2,129,621.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Monica Howard Douglas sold 8,874 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the sale, the executive vice president now directly owns 33,638 shares in the company, valued at approximately $2,129,621.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,774 shares of company stock worth $8,952,720. Insiders own 0.97% of the company’s stock.

Coca-Cola Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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