Yoffe Investment Management LLC Makes New Investment in The Coca-Cola Company (NYSE:KO)

Yoffe Investment Management LLC bought a new position in shares of The Coca-Cola Company (NYSE:KOFree Report) during the fourth quarter, Holdings Channel.com reports. The firm bought 8,420 shares of the company’s stock, valued at approximately $524,000.

Several other hedge funds have also modified their holdings of the stock. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola during the fourth quarter worth $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the 4th quarter valued at about $31,000. Murphy & Mullick Capital Management Corp acquired a new position in Coca-Cola in the fourth quarter valued at approximately $38,000. Hoey Investments Inc. raised its position in shares of Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after acquiring an additional 181 shares during the last quarter. Finally, MilWealth Group LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $40,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of 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 report on Thursday, January 30th. Evercore ISI raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Piper Sandler lifted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Morgan Stanley raised 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. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $75.81.

Check Out Our Latest Stock Analysis on KO

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. This represents a 18.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. This represents a 12.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 443,349 shares of company stock worth $31,645,324 in the last ninety days. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.81 on Monday. 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 business has a 50-day moving average of $71.09 and a 200-day moving average of $67.03. The stock has a market capitalization of $309.09 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

Coca-Cola (NYSE:KOGet Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period last year, the company earned $0.72 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Coca-Cola Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KOFree Report).

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.