Premier Fund Managers Ltd Boosts Stake in The Coca-Cola Company (NYSE:KO)

Premier Fund Managers Ltd boosted its position in shares of The Coca-Cola Company (NYSE:KO) by 72.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,171 shares of the company’s stock after acquiring an additional 11,025 shares during the quarter. Premier Fund Managers Ltd’s holdings in Coca-Cola were worth $1,624,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of KO. Fort Sheridan Advisors LLC raised its position in Coca-Cola by 3.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after purchasing an additional 161 shares during the last quarter. Excalibur Management Corp grew its stake in Coca-Cola by 0.6% in the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after buying an additional 161 shares during the last quarter. Wells Trecaso Financial Group LLC increased its holdings in shares of Coca-Cola by 4.8% during the fourth quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock worth $225,000 after purchasing an additional 164 shares during the period. Atlas Brown Inc. boosted its holdings in shares of Coca-Cola by 0.8% in the 4th quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock valued at $1,309,000 after purchasing an additional 166 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in Coca-Cola by 0.4% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,198 shares of the company’s stock worth $2,440,000 after acquiring an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 313,423 shares of company stock valued at $22,263,071. Company insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

NYSE:KO opened at $70.80 on Friday. 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 firm has a market cap of $304.70 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company’s 50-day moving average price is $67.62 and its two-hundred day moving average price is $66.46. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS 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%. On average, equities analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is presently 82.59%.

Wall Street Analysts Forecast Growth

KO has been the topic of several research reports. Barclays upped their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Piper Sandler lifted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company boosted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Two investment 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 data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Company 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.