Delta Financial Group Inc. Buys New Position in The Coca-Cola Company (NYSE:KO)

Delta Financial Group Inc. bought a new position in shares of The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,782 shares of the company’s stock, valued at approximately $734,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Hara Capital LLC acquired a new position in shares of Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the third quarter valued at $36,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola during the third quarter valued at about $43,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola during the 4th quarter worth about $37,000. Finally, MilWealth Group LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at about $40,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Up 1.9 %

KO stock opened at $71.37 on Friday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The stock has a market cap of $307.46 billion, a P/E ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61. The stock’s fifty day simple moving average is $63.71 and its two-hundred day simple moving average is $66.42. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last posted its quarterly 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 net margin of 22.59% and a return on equity of 45.37%. Analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 2.86%. 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 is 78.54%.

Analysts Set New Price Targets

Several brokerages have issued reports on KO. JPMorgan Chase & Co. cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays increased their target price on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Evercore ISI raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. Two 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

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.