Grantvest Financial Group LLC Acquires Shares of 3,279 The Coca-Cola Company (NYSE:KO)

Grantvest Financial Group LLC bought a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,279 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Hirtle Callaghan & Co LLC boosted its holdings in shares of Coca-Cola by 2.7% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 13,833 shares of the company’s stock valued at $861,000 after purchasing an additional 367 shares during the last quarter. ICW Investment Advisors LLC raised its holdings in shares of Coca-Cola by 1.0% during the 4th quarter. ICW Investment Advisors LLC now owns 34,040 shares of the company’s stock worth $2,119,000 after acquiring an additional 328 shares in the last quarter. Woodmont Investment Counsel LLC boosted its position in shares of Coca-Cola by 0.4% during the 4th quarter. Woodmont Investment Counsel LLC now owns 107,090 shares of the company’s stock valued at $6,667,000 after acquiring an additional 418 shares during the last quarter. Congress Wealth Management LLC DE grew its holdings in shares of Coca-Cola by 14.3% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,287,604 shares of the company’s stock valued at $80,166,000 after purchasing an additional 160,757 shares in the last quarter. Finally, Dillon & Associates Inc. increased its position in Coca-Cola by 3.2% in the fourth quarter. Dillon & Associates Inc. now owns 6,551 shares of the company’s stock worth $406,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock valued at $22,263,071 over the last ninety days. 0.97% of the stock is owned by company insiders.

Coca-Cola Trading Down 1.6 %

KO opened at $68.58 on Monday. 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’s fifty day moving average is $67.00 and its two-hundred day moving average is $66.43. The company has a market capitalization of $295.12 billion, a P/E ratio of 27.76, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.97%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Morgan Stanley lifted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, UBS Group increased their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $74.24.

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.