Interval Partners LP Buys 253,915 Shares of The Coca-Cola Company (NYSE:KO)

Interval Partners LP lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 91.6% in the fourth quarter, HoldingsChannel reports. The fund owned 530,988 shares of the company’s stock after acquiring an additional 253,915 shares during the period. Interval Partners LP’s holdings in Coca-Cola were worth $33,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in Coca-Cola by 1.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 893,192 shares of the company’s stock valued at $55,610,000 after purchasing an additional 8,810 shares during the period. ST Germain D J Co. Inc. raised its position in shares of Coca-Cola by 17.4% during the fourth quarter. ST Germain D J Co. Inc. now owns 25,440 shares of the company’s stock valued at $1,584,000 after buying an additional 3,774 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Coca-Cola by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 55,243 shares of the company’s stock worth $3,439,000 after buying an additional 1,354 shares in the last quarter. HBW Advisory Services LLC boosted its position in shares of Coca-Cola by 14.2% during the fourth quarter. HBW Advisory Services LLC now owns 13,520 shares of the company’s stock worth $842,000 after acquiring an additional 1,676 shares during the last quarter. Finally, Graypoint LLC grew its stake in Coca-Cola by 7.7% during the fourth quarter. Graypoint LLC now owns 39,752 shares of the company’s stock valued at $2,475,000 after acquiring an additional 2,842 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of KO stock opened at $70.62 on Friday. The stock has a 50 day moving average price of $70.95 and a 200 day moving average price of $66.64. The Coca-Cola Company has a 52-week low of $60.62 and a 52-week high of $74.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a market capitalization of $303.97 billion, a P/E ratio of 28.59, a P/E/G ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $11.13 billion during 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 business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio is presently 81.60%.

Analyst Ratings Changes

KO has been the topic of several research analyst reports. Cfra Research upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. Morgan Stanley raised their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Barclays reissued an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. 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. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $75.59.

Insider Activity at Coca-Cola

In other news, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the transaction, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 462,407 shares of company stock worth $32,990,056. Company 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.