Armis Advisers LLC Makes New Investment in The Coca-Cola Company (NYSE:KO)

Armis Advisers LLC acquired a new position in The Coca-Cola Company (NYSE:KO) in the 4th quarter, Holdings Channel.com reports. The firm acquired 17,288 shares of the company’s stock, valued at approximately $1,076,000.

A number of other hedge funds have also made changes to their positions in KO. Tallon Kerry Patrick purchased a new position in shares of Coca-Cola in the fourth quarter valued at $241,000. Brighton Jones LLC boosted its stake in shares of Coca-Cola by 13.3% during the fourth quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after acquiring an additional 4,591 shares during the last quarter. LexAurum Advisors LLC boosted its stake in shares of Coca-Cola by 21.5% during the fourth quarter. LexAurum Advisors LLC now owns 6,343 shares of the company’s stock valued at $395,000 after acquiring an additional 1,122 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Coca-Cola by 16.4% during the fourth quarter. Sound Income Strategies LLC now owns 9,994 shares of the company’s stock valued at $622,000 after acquiring an additional 1,408 shares during the last quarter. Finally, Gradient Investments LLC boosted its stake in shares of Coca-Cola by 10.7% during the fourth quarter. Gradient Investments LLC now owns 505,386 shares of the company’s stock valued at $31,465,000 after acquiring an additional 48,664 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Coca-Cola stock opened at $71.81 on Friday. The stock’s 50-day moving average is $71.09 and its 200-day moving average is $67.00. The company has a market cap of $309.09 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38.

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

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. Coca-Cola’s payout ratio is currently 81.60%.

Insider Activity at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 462,407 shares of company stock worth $32,990,056. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley increased their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. UBS Group increased their price objective on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Piper Sandler increased their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company raised their price target 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, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $75.81.

Coca-Cola Company 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.