Procyon Advisors LLC Purchases 970 Shares of The Coca-Cola Company (NYSE:KO)

Procyon Advisors LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 1.9% during the fourth quarter, Holdings Channel reports. The fund owned 52,886 shares of the company’s stock after acquiring an additional 970 shares during the period. Procyon Advisors LLC’s holdings in Coca-Cola were worth $3,117,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. ACT Wealth Management LLC bought a new position in Coca-Cola in the fourth quarter valued at $202,000. Planned Solutions Inc. bought a new position in Coca-Cola in the fourth quarter valued at $106,000. Courier Capital LLC increased its stake in Coca-Cola by 1.1% in the fourth quarter. Courier Capital LLC now owns 25,263 shares of the company’s stock valued at $1,489,000 after acquiring an additional 269 shares during the last quarter. OmniStar Financial Group Inc. increased its stake in Coca-Cola by 5.6% in the fourth quarter. OmniStar Financial Group Inc. now owns 14,715 shares of the company’s stock valued at $867,000 after acquiring an additional 785 shares during the last quarter. Finally, Patriot Investment Management Group Inc. increased its stake in Coca-Cola by 2.9% in the fourth quarter. Patriot Investment Management Group Inc. now owns 11,852 shares of the company’s stock valued at $698,000 after acquiring an additional 336 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Citigroup upped their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays upped their price target on shares of Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Coca-Cola Stock Up 0.0 %

KO traded up $0.03 on Thursday, hitting $61.06. The company had a trading volume of 1,359,239 shares, compared to its average volume of 13,985,863. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.99. The stock has a fifty day simple moving average of $60.04 and a 200-day simple moving average of $58.30. The firm has a market capitalization of $263.24 billion, a P/E ratio of 24.61, a P/E/G ratio of 3.43 and a beta of 0.59.

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

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a $0.485 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.18%. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,407 shares of company stock valued at $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola 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.