The Coca-Cola Company (NYSE:KO) Shares Purchased by Callan Capital LLC

Callan Capital LLC lifted its holdings in The Coca-Cola Company (NYSE:KO) by 21.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,743 shares of the company’s stock after acquiring an additional 1,536 shares during the quarter. Callan Capital LLC’s holdings in Coca-Cola were worth $544,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Redmond Asset Management LLC increased its stake in shares of Coca-Cola by 291.8% in the fourth quarter. Redmond Asset Management LLC now owns 11,974 shares of the company’s stock worth $746,000 after acquiring an additional 8,918 shares during the period. Winebrenner Capital Management LLC acquired a new stake in Coca-Cola during the fourth quarter valued at $1,239,000. Navellier & Associates Inc. grew its position in Coca-Cola by 17.7% during the fourth quarter. Navellier & Associates Inc. now owns 25,410 shares of the company’s stock valued at $1,582,000 after buying an additional 3,817 shares during the period. Prentice Wealth Management LLC grew its position in Coca-Cola by 6.6% during the fourth quarter. Prentice Wealth Management LLC now owns 10,385 shares of the company’s stock valued at $647,000 after buying an additional 639 shares during the period. Finally, Bell Bank grew its position in Coca-Cola by 3.6% during the fourth quarter. Bell Bank now owns 26,103 shares of the company’s stock valued at $1,625,000 after buying an additional 898 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $71.37 on Friday. The company’s 50-day moving average price is $63.71 and its 200-day moving average price 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. The company 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 Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

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, topping 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%. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.96 earnings per share 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 paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. Coca-Cola’s payout ratio is 78.54%.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. Barclays raised their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wells Fargo & Company raised their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Morgan Stanley raised their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price 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.