Deane Retirement Strategies Inc. Takes Position in The Coca-Cola Company (NYSE:KO)

Deane Retirement Strategies Inc. acquired a new stake in shares of The Coca-Cola Company (NYSE:KOGet Rating) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 32,129 shares of the company’s stock, valued at approximately $2,020,000. Coca-Cola makes up about 1.1% of Deane Retirement Strategies Inc.’s investment portfolio, making the stock its 29th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mystic Asset Management Inc. purchased a new position in Coca-Cola during the fourth quarter valued at approximately $444,000. TRH Financial LLC grew its position in Coca-Cola by 11.7% in the first quarter. TRH Financial LLC now owns 143,657 shares of the company’s stock worth $8,907,000 after acquiring an additional 15,091 shares in the last quarter. Cornerstone Advisory LLC grew its position in Coca-Cola by 51.3% in the fourth quarter. Cornerstone Advisory LLC now owns 7,759 shares of the company’s stock worth $460,000 after acquiring an additional 2,630 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its position in Coca-Cola by 2.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 189,267 shares of the company’s stock worth $11,207,000 after acquiring an additional 3,775 shares in the last quarter. Finally, Hayek Kallen Investment Management grew its position in Coca-Cola by 7.4% in the fourth quarter. Hayek Kallen Investment Management now owns 80,230 shares of the company’s stock worth $4,750,000 after acquiring an additional 5,541 shares in the last quarter. 68.51% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on KO shares. Royal Bank of Canada boosted their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 26th. Citigroup boosted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 26th. Cowen upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company a “market perform” rating in a research note on Tuesday, April 26th. StockNews.com upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating in a research note on Tuesday, April 26th. Finally, Credit Suisse Group set a $68.00 target price on shares of Coca-Cola in a research note on Friday, May 13th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.05.

Shares of KO traded up $0.48 during trading hours on Thursday, hitting $61.63. The stock had a trading volume of 292,672 shares, compared to its average volume of 17,120,408. The company’s fifty day moving average is $63.44 and its two-hundred day moving average is $61.45. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.18 and a quick ratio of 0.98. The Coca-Cola Company has a 52 week low of $52.28 and a 52 week high of $67.20. The stock has a market capitalization of $267.17 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 3.52 and a beta of 0.58.

Coca-Cola (NYSE:KOGet Rating) last issued its quarterly earnings data on Monday, April 25th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. Coca-Cola had a net margin of 25.69% and a return on equity of 41.84%. The firm had revenue of $10.50 billion for the quarter, compared to analyst estimates of $9.83 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 16.7% on a year-over-year basis. Equities analysts predict that The Coca-Cola Company will post 2.47 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Tuesday, June 14th. Coca-Cola’s dividend payout ratio is currently 73.95%.

In other news, COO Brian John Smith sold 35,800 shares of the firm’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $67.04, for a total value of $2,400,032.00. Following the transaction, the chief operating officer now owns 116,168 shares of the company’s stock, valued at approximately $7,787,902.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy Quan sold 35,335 shares of the firm’s stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $65.05, for a total transaction of $2,298,541.75. Following the completion of the transaction, the senior vice president now directly owns 198,456 shares in the company, valued at approximately $12,909,562.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 412,161 shares of company stock worth $26,786,278. Insiders own 0.98% of the company’s stock.

About Coca-Cola (Get Rating)

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

Featured Stories

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.