Procyon Advisors LLC Acquires 970 Shares of The Coca-Cola Company (NYSE:KO)

Procyon Advisors LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,886 shares of the company’s stock after purchasing an additional 970 shares during the quarter. Procyon Advisors LLC’s holdings in Coca-Cola were worth $3,117,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of KO. Hibernia Wealth Partners LLC bought a new position in Coca-Cola in the 3rd quarter valued at $25,000. Freedom Wealth Alliance LLC bought a new position in Coca-Cola in the 4th quarter valued at $25,000. ZRC Wealth Management LLC raised its position in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the last quarter. Fortis Capital Advisors LLC bought a new position in Coca-Cola in the 4th quarter valued at $30,000. Finally, KB Financial Partners LLC bought a new position in Coca-Cola in the 1st quarter valued at $31,000. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the sale, the executive vice president now owns 143,383 shares in the company, valued at $8,602,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares in the company, valued at approximately $8,602,980. The disclosure for this sale can be found here. Insiders have sold a total of 375,407 shares of company stock worth $22,795,742 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.0 %

Shares of Coca-Cola stock traded up $0.03 during trading on Thursday, reaching $61.06. 1,359,239 shares of the company were exchanged, compared to its average volume of 13,985,863. 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 twelve month low of $51.55 and a twelve month high of $64.99. The business has a 50-day moving average price of $60.04 and a 200-day moving average price of $58.30. The firm has a market capitalization of $263.24 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 3.43 and a beta of 0.59.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, March 14th. Coca-Cola’s payout ratio is 78.23%.

Analysts Set New Price Targets

KO has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Citigroup lifted their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays lifted their target price on Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

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.