NorthCrest Asset Manangement LLC Has $885,000 Position in The Coca-Cola Company (NYSE:KO)

NorthCrest Asset Manangement LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,213 shares of the company’s stock after acquiring an additional 600 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Coca-Cola were worth $885,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola during the 4th quarter worth about $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at about $31,000. REAP Financial Group LLC grew its stake in shares of Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after buying an additional 208 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola in the 4th quarter valued at about $38,000. Finally, Hoey Investments Inc. grew its stake in shares of 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 period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Nikolaos Koumettis sold 55,500 shares of Coca-Cola stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the sale, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,533,008.09. The trade was a 18.35% 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 Coca-Cola stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 229,761 shares of company stock valued at $16,474,587. 0.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on KO shares. Morgan Stanley raised their target price on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Royal Bank of Canada raised their target price on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler raised their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Buy” and a consensus target price of $75.81.

Coca-Cola Price Performance

Coca-Cola stock opened at $71.49 on Friday. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The company’s 50 day moving average price is $71.28 and its two-hundred day moving average price is $67.20. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The stock has a market cap of $307.69 billion, a P/E ratio of 28.94, a P/E/G ratio of 3.79 and a beta of 0.47.

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

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. Coca-Cola’s dividend payout ratio is currently 81.60%.

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.