Ellsworth Advisors LLC Boosts Holdings in The Coca-Cola Company (NYSE:KO)

Ellsworth Advisors LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,087 shares of the company’s stock after acquiring an additional 1,551 shares during the quarter. Coca-Cola accounts for about 1.4% of Ellsworth Advisors LLC’s holdings, making the stock its 26th biggest holding. Ellsworth Advisors LLC’s holdings in Coca-Cola were worth $4,425,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KO. Fairfield Bush & CO. acquired a new stake in Coca-Cola in the first quarter valued at approximately $77,000. Merit Financial Group LLC raised its holdings in Coca-Cola by 16.7% during the first quarter. Merit Financial Group LLC now owns 12,227 shares of the company’s stock worth $758,000 after purchasing an additional 1,754 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Coca-Cola by 41.4% during the first quarter. NewEdge Advisors LLC now owns 149,275 shares of the company’s stock worth $9,255,000 after purchasing an additional 43,680 shares in the last quarter. Ergoteles LLC raised its holdings in Coca-Cola by 385.3% during the first quarter. Ergoteles LLC now owns 19,032 shares of the company’s stock worth $1,180,000 after purchasing an additional 15,110 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Coca-Cola by 11.9% during the first quarter. Mackenzie Financial Corp now owns 2,840,557 shares of the company’s stock worth $176,115,000 after purchasing an additional 301,804 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value 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 approximately $26,968,753.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction dated 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. In the last quarter, insiders sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

NYSE:KO traded up $0.15 during midday trading on Friday, reaching $61.18. The stock had a trading volume of 13,683,528 shares, compared to its average volume of 14,604,461. The stock has a market cap of $263.76 billion, a P/E ratio of 24.67, a P/E/G ratio of 3.46 and a beta of 0.59. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99. The firm has a fifty day simple moving average of $60.06 and a two-hundred day simple moving average of $58.32. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last issued its earnings results 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 company had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the previous year, the firm earned $0.45 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts expect that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a $0.485 dividend. The ex-dividend date 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 dividend yield of 3.17%. Coca-Cola’s payout ratio is currently 78.23%.

Wall Street Analysts Forecast Growth

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

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.