Bailard Inc. Boosts Stake in The Coca-Cola Company (NYSE:KO)

Bailard Inc. boosted its stake in The Coca-Cola Company (NYSE:KO) by 17.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,658 shares of the company’s stock after buying an additional 17,664 shares during the quarter. Bailard Inc.’s holdings in Coca-Cola were worth $7,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ZRC Wealth Management LLC raised its holdings in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $30,000. Financial Connections Group Inc. acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Avion Wealth increased its holdings in shares of Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after buying an additional 322 shares during the last quarter. Finally, Clear Investment Research LLC increased its holdings in Coca-Cola by 36.1% in the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock valued at $52,000 after purchasing an additional 246 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.2 %

KO stock traded down $0.14 during midday trading on Thursday, hitting $61.41. The company’s stock had a trading volume of 12,176,085 shares, compared to its average volume of 13,932,138. The firm has a market capitalization of $264.75 billion, a P/E ratio of 24.98, a PEG ratio of 3.46 and a beta of 0.59. The firm has a 50-day simple moving average of $60.02 and a 200-day simple moving average of $58.74. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.69. 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 released its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. As a group, equities analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.485 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a yield of 3.16%. Coca-Cola’s payout ratio is 78.23%.

Wall Street Analyst Weigh In

KO has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Barclays lifted their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, Citigroup lifted their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.09.

Insider Activity at Coca-Cola

In related news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were 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 directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of Coca-Cola stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares in the company, valued at $8,602,980. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction 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. Insiders sold a total of 375,407 shares of company stock valued at $22,795,742 over the last ninety days. Insiders own 0.97% of the company’s stock.

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.