NorthRock Partners LLC Has $3.03 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

NorthRock Partners LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 188.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 48,646 shares of the company’s stock after buying an additional 31,759 shares during the period. NorthRock Partners LLC’s holdings in Coca-Cola were worth $3,029,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of KO. Crowley Wealth Management Inc. acquired a new position in Coca-Cola in the 4th quarter worth $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola in the fourth quarter valued at about $31,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Coca-Cola during the fourth quarter worth about $38,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola during the fourth quarter worth about $37,000. Finally, Hoey Investments Inc. raised its position in Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after buying an additional 181 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Trading Down 0.9%

KO stock opened at $68.92 on Wednesday. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The stock has a market cap of $296.65 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The company has a fifty day moving average price of $70.91 and a two-hundred day moving average price of $66.67. 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 announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the prior year, the business earned $0.72 EPS. Coca-Cola’s quarterly revenue was down .7% on a year-over-year basis. Equities 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. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

Insiders Place Their Bets

In related news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value 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 approximately $6,769,334. This trade represents a 12.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 462,407 shares of company stock worth $32,990,056 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Morgan Stanley increased their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Cfra Research upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Piper Sandler boosted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $75.59.

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.