31,277 Shares in The Coca-Cola Company (NYSE:KO) Bought by GAMMA Investing LLC

GAMMA Investing LLC purchased a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,277 shares of the company’s stock, valued at approximately $1,861,000. Coca-Cola accounts for about 0.5% of GAMMA Investing LLC’s investment portfolio, making the stock its 29th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ZRC Wealth Management LLC grew its stake in shares of Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at $30,000. Financial Connections Group Inc. bought a new position in shares of Coca-Cola during the fourth quarter valued at $38,000. Avion Wealth lifted its holdings in shares of Coca-Cola by 64.8% during the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after purchasing an additional 322 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at $53,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock worth $22,795,742 in the last quarter. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

NYSE KO traded up $0.09 during trading on Tuesday, hitting $60.64. 13,687,837 shares of the stock traded hands, compared to its average volume of 13,898,879. The company has a market capitalization of $261.43 billion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 3.44 and a beta of 0.59. The firm has a 50-day simple moving average of $59.95 and a 200-day simple moving average of $58.67. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.99.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 EPS. As a group, analysts predict that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday. Citigroup raised their price objective on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays raised their price objective on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average price target of $67.09.

Coca-Cola 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.