First Fiduciary Investment Counsel Inc. Has $10.07 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

First Fiduciary Investment Counsel Inc. boosted its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 170,920 shares of the company’s stock after buying an additional 291 shares during the period. Coca-Cola comprises about 2.2% of First Fiduciary Investment Counsel Inc.’s portfolio, making the stock its 21st biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in Coca-Cola were worth $10,072,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KO. ZRC Wealth Management LLC increased its position in Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in Coca-Cola during the fourth quarter valued at about $30,000. Financial Connections Group Inc. bought a new stake in Coca-Cola during the fourth quarter valued at about $38,000. Avion Wealth lifted its stake in shares of Coca-Cola by 64.8% in the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after buying an additional 322 shares during the period. Finally, Clear Investment Research LLC lifted its stake in shares of Coca-Cola by 36.1% in the third quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock valued at $52,000 after buying an additional 246 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly 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. Over the last 90 days, insiders sold 375,407 shares of company stock valued at $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KO shares. Barclays increased their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Citigroup increased their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.22.

Coca-Cola Stock Performance

NYSE:KO opened at $61.74 on Friday. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.69. 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 firm has a market capitalization of $266.17 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The firm has a 50-day moving average price of $60.12 and a 200 day moving average price of $58.82.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data 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. The company had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. Research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. Coca-Cola’s dividend payout ratio (DPR) 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.