Avity Investment Management Inc. Grows Stock Position in The Coca-Cola Company (NYSE:KO)

Avity Investment Management Inc. raised its position in The Coca-Cola Company (NYSE:KO) by 0.8% during the first quarter, HoldingsChannel.com reports. The firm owned 48,339 shares of the company’s stock after buying an additional 380 shares during the quarter. Avity Investment Management Inc.’s holdings in Coca-Cola were worth $2,957,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. ZRC Wealth Management LLC raised its holdings in shares of Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the period. Tidemark LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth about $26,000. Private Wealth Management Group LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth about $27,000. Criterion Capital Advisors LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth about $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at about $31,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.4 %

Shares of KO stock traded down $0.26 on Friday, reaching $63.65. 17,358,827 shares of the company’s stock traded hands, compared to its average volume of 11,241,235. The business’s 50 day moving average price is $62.72 and its two-hundred day moving average price is $60.77. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.36. The company has a market capitalization of $274.20 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 3.61 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, June 14th. Coca-Cola’s dividend payout ratio is 77.60%.

Analysts Set New Price Targets

Several brokerages recently commented on KO. Evercore ISI raised their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Barclays raised their target price on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Morgan Stanley raised their target price on Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, June 10th. BNP Paribas assumed coverage on Coca-Cola in a research note on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $68.83.

Insider Buying and Selling at Coca-Cola

In other news, EVP Beatriz R. Perez sold 57,298 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares of the company’s stock, valued at $10,358,962.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the sale, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $61.99, for a total value of $3,551,903.02. Following the sale, the executive vice president now directly owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. Insiders have sold a total of 223,665 shares of company stock worth $13,995,465 over the last 90 days. Insiders own 0.97% of the company’s stock.

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.