Titleist Asset Management LLC Purchases 1,412 Shares of The Coca-Cola Company (NYSE:KO)

Titleist Asset Management LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 22.6% in the 4th quarter, Holdings Channel reports. The fund owned 7,668 shares of the company’s stock after buying an additional 1,412 shares during the quarter. Titleist Asset Management LLC’s holdings in Coca-Cola were worth $477,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola in the 4th quarter valued at approximately $31,000. Murphy & Mullick Capital Management Corp bought a new stake in Coca-Cola during the 4th quarter valued at $38,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth $37,000. Finally, Hoey Investments Inc. boosted its holdings in shares of Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This represents a 18.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lisa Chang sold 13,445 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now owns 94,676 shares in the company, valued at approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock worth $22,263,071 in the last three months. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Performance

NYSE KO opened at $69.87 on Monday. The company has a 50-day simple moving average of $68.72 and a two-hundred day simple moving average of $66.38. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.95. The firm has a market cap of $300.67 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.79 and a beta of 0.45. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. UBS Group increased their price target on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $74.24.

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.