Diversified LLC Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Diversified LLC grew its position in The Coca-Cola Company (NYSE:KO) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,202 shares of the company’s stock after buying an additional 244 shares during the quarter. Diversified LLC’s holdings in Coca-Cola were worth $483,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Enterprise Bank & Trust Co lifted its holdings in shares of Coca-Cola by 3.4% in the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after buying an additional 167 shares during the period. Elk River Wealth Management LLC lifted its holdings in shares of Coca-Cola by 1.6% during the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after purchasing an additional 170 shares during the last quarter. KRS Capital Management LLC lifted its holdings in shares of Coca-Cola by 3.8% during the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares during the last quarter. Wayfinding Financial LLC lifted its holdings in shares of Coca-Cola by 1.8% during the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after purchasing an additional 175 shares during the last quarter. Finally, John G Ullman & Associates Inc. lifted its holdings in shares of Coca-Cola by 2.2% during the fourth quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock valued at $476,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James Quincey sold 247,188 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders have sold a total of 375,407 shares of company stock valued at $22,795,742 in the last three months. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the subject of several analyst reports. Barclays upped their target price on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Citigroup upped their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reduced their target price on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Friday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.09.

Coca-Cola Stock Up 0.2 %

NYSE:KO traded up $0.11 during trading hours on Monday, hitting $60.28. 4,463,304 shares of the company’s stock traded hands, compared to its average volume of 13,753,804. The firm has a market cap of $259.88 billion, a P/E ratio of 24.20, a P/E/G ratio of 3.44 and a beta of 0.59. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The stock’s fifty day moving average price is $59.94 and its two-hundred day moving average price is $58.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The company had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the firm posted $0.45 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, research analysts expect that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio is presently 78.23%.

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.