Virtu Financial LLC Invests $2.12 Million in The Coca-Cola Company (NYSE:KO)

Virtu Financial LLC acquired a new position in shares of The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,026 shares of the company’s stock, valued at approximately $2,118,000.

Several other institutional investors also recently modified their holdings of KO. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth about $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth about $37,000. MilWealth Group LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth about $40,000. Sugar Maple Asset Management LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth about $43,000. Finally, Hara Capital LLC boosted its holdings in shares of Coca-Cola by 43.7% during the 4th quarter. Hara Capital LLC now owns 691 shares of the company’s stock worth $43,000 after buying an additional 210 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

KO stock opened at $68.58 on Friday. The company has a 50 day simple moving average of $67.00 and a 200 day simple moving average of $66.48. The stock has a market cap of $295.12 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last released its quarterly earnings data 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%. Research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.97%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio is currently 82.59%.

Insider Buying and Selling

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 approximately $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock worth $22,263,071 in the last three months. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KO. Barclays lifted their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Wells Fargo & Company boosted their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Finally, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $74.24.

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.