Canal Capital Management LLC Has $1.31 Million Position in The Coca-Cola Company (NYSE:KO)

Canal Capital Management LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 183.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,009 shares of the company’s stock after purchasing an additional 13,593 shares during the period. Canal Capital Management LLC’s holdings in Coca-Cola were worth $1,308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. OneDigital Investment Advisors LLC boosted its holdings in shares of Coca-Cola by 11.2% in the fourth quarter. OneDigital Investment Advisors LLC now owns 115,974 shares of the company’s stock valued at $7,221,000 after buying an additional 11,705 shares during the period. Stifel Financial Corp increased its holdings in Coca-Cola by 0.5% during the 4th quarter. Stifel Financial Corp now owns 8,550,271 shares of the company’s stock worth $532,342,000 after purchasing an additional 41,332 shares in the last quarter. Optivise Advisory Services LLC lifted its holdings in shares of Coca-Cola by 18.4% in the fourth quarter. Optivise Advisory Services LLC now owns 5,462 shares of the company’s stock valued at $340,000 after purchasing an additional 850 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its position in shares of Coca-Cola by 7.9% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 554,219 shares of the company’s stock worth $34,506,000 after buying an additional 40,443 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in Coca-Cola by 72.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 296,378 shares of the company’s stock valued at $18,452,000 after buying an additional 124,317 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. The trade was a 32.51 % decrease in their position. 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 firm’s stock in a transaction dated Tuesday, February 25th. The shares were 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 directly owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 1.8 %

KO opened at $72.99 on Monday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a fifty day moving average of $70.39 and a 200-day moving average of $66.36. The Coca-Cola Company has a fifty-two week low of $59.72 and a fifty-two week high of $73.95. The company has a market capitalization of $314.13 billion, a P/E ratio of 29.55, a P/E/G ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (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 expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is 82.59%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. decreased their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Morgan Stanley increased their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. UBS Group raised their price target on Coca-Cola from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Buy” and a consensus price target of $74.59.

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.