Focused Wealth Management Inc lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 52.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,491 shares of the company’s stock after purchasing an additional 7,009 shares during the quarter. Focused Wealth Management Inc’s holdings in The Coca-Cola were worth $940,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in KO. Santori & Peters Inc. purchased a new position in The Coca-Cola in the 4th quarter worth approximately $127,000. Veritas Investment Management LLP purchased a new position in The Coca-Cola in the 3rd quarter worth approximately $135,000. Spectrum Management Group Inc. purchased a new position in The Coca-Cola in the 3rd quarter worth approximately $137,000. Legacy Advisors LLC purchased a new position in The Coca-Cola in the 3rd quarter worth approximately $139,000. Finally, Almanack Investment Partners LLC. purchased a new position in The Coca-Cola in the 2nd quarter worth approximately $142,000. 66.03% of the stock is currently owned by institutional investors.
Shares of KO stock opened at $43.07 on Wednesday. The company has a market capitalization of $186,590.72, a PE ratio of 22.55, a price-to-earnings-growth ratio of 2.53 and a beta of 0.72. The Coca-Cola Company has a fifty-two week low of $42.19 and a fifty-two week high of $48.62. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.25 and a current ratio of 1.34.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were given a $0.39 dividend. This is a positive change from The Coca-Cola’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Wednesday, March 14th. The Coca-Cola’s dividend payout ratio (DPR) is currently 81.68%.
In related news, insider Jennifer K. Mann sold 1,883 shares of The Coca-Cola stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $45.00, for a total transaction of $84,735.00. Following the sale, the insider now directly owns 98,995 shares in the company, valued at $4,454,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Edward Long sold 15,000 shares of The Coca-Cola stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $47.95, for a total value of $719,250.00. Following the sale, the insider now owns 24,673 shares in the company, valued at $1,183,070.35. The disclosure for this sale can be found here. 1.48% of the stock is currently owned by company insiders.
KO has been the topic of a number of analyst reports. Royal Bank of Canada set a $56.00 price target on The Coca-Cola and gave the stock a “buy” rating in a research note on Wednesday, December 27th. Jefferies Group set a $50.00 price target on The Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, January 4th. Vetr cut The Coca-Cola from a “strong-buy” rating to a “hold” rating and set a $47.54 price target on the stock. in a research note on Monday, January 8th. Goldman Sachs set a $49.00 price target on The Coca-Cola and gave the stock a “sell” rating in a research note on Wednesday, January 10th. Finally, Evercore ISI raised The Coca-Cola from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $46.04 to $55.00 in a research note on Friday, January 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $49.09.
The Coca-Cola Company Profile
The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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