BIP Wealth LLC Trims Stake in The Coca-Cola Company (NYSE:KO)

BIP Wealth LLC lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,737 shares of the company’s stock after selling 1,689 shares during the quarter. BIP Wealth LLC’s holdings in Coca-Cola were worth $2,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of KO. Crowley Wealth Management Inc. purchased a new position in shares of Coca-Cola during the 4th quarter valued at $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola during the 4th quarter valued at approximately $37,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Coca-Cola in the fourth quarter worth $38,000. Finally, Hoey Investments Inc. boosted its position in shares of Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after acquiring an additional 181 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KO. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Evercore ISI upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Buy” and a consensus price target of $75.59.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the transaction, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 in the last three months. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.6 %

KO stock opened at $71.69 on Friday. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm’s 50-day moving average is $70.90 and its 200 day moving average is $66.56. The company has a market capitalization of $308.52 billion, a PE ratio of 29.02, a P/E/G ratio of 3.79 and a beta of 0.45. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

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.