Central Valley Advisors LLC Takes $350,000 Position in The Coca-Cola Company (NYSE:KO)

Central Valley Advisors LLC bought a new position in shares of The Coca-Cola Company (NYSE:KO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,941 shares of the company’s stock, valued at approximately $350,000.

Other hedge funds also recently modified their holdings of the company. Patrick M Sweeney & Associates Inc. acquired a new position in Coca-Cola during the fourth quarter worth $410,000. Beacon Pointe Advisors LLC lifted its position in shares of Coca-Cola by 24.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after buying an additional 89,139 shares in the last quarter. Insigneo Advisory Services LLC boosted its stake in shares of Coca-Cola by 12.2% in the 3rd quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after buying an additional 4,527 shares during the last quarter. Birchcreek Wealth Management LLC boosted its position in Coca-Cola by 12.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after purchasing an additional 507 shares during the last quarter. Finally, Wahed Invest LLC increased its holdings in Coca-Cola by 10.3% during the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after buying an additional 5,707 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KO. JPMorgan Chase & Co. increased 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. Barclays boosted their target price on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Argus increased their price objective on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. Evercore ISI upped their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, UBS Group boosted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.58.

Insider Activity

In other news, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the completion of the sale, the executive vice president now owns 33,638 shares in the company, valued at approximately $2,129,621.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monica Howard Douglas sold 8,874 shares of Coca-Cola stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $63.31, for a total transaction of $561,812.94. Following the sale, the executive vice president now owns 33,638 shares of the company’s stock, valued at $2,129,621.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 446,577 shares of company stock worth $27,385,816. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

Shares of NYSE:KO traded down $0.16 during trading on Wednesday, reaching $62.75. 2,910,984 shares of the company’s stock traded hands, compared to its average volume of 13,425,110. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $63.76. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The company has a 50-day simple moving average of $60.96 and a 200-day simple moving average of $59.80. The firm has a market cap of $270.32 billion, a PE ratio of 25.16, a P/E/G ratio of 3.55 and a beta of 0.57.

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

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is currently 77.60%.

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.