Cedar Point Capital Partners LLC Invests $273,000 in The Coca-Cola Company (NYSE:KO)

Cedar Point Capital Partners LLC bought a new position in The Coca-Cola Company (NYSE:KO) during the 4th quarter, Holdings Channel reports. The firm bought 4,633 shares of the company’s stock, valued at approximately $273,000.

Several other institutional investors and hedge funds have also modified their holdings of KO. ZRC Wealth Management LLC lifted its holdings in Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Coca-Cola during the 4th quarter valued at $30,000. Financial Connections Group Inc. bought a new stake in shares of Coca-Cola during the 4th quarter valued at $38,000. Avion Wealth raised its position in shares of Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after acquiring an additional 322 shares during the last quarter. Finally, Clear Investment Research LLC raised its position in shares of Coca-Cola by 36.1% during the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock valued at $52,000 after acquiring an additional 246 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James Quincey sold 247,188 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 375,407 shares of company stock worth $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO remained flat at $61.74 during trading hours on Friday. 10,994,262 shares of the company were exchanged, compared to its average volume of 12,842,353. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.69. The company’s 50 day moving average is $60.12 and its 200-day moving average is $58.82. The company has a market cap of $266.17 billion, a P/E ratio of 24.90, a P/E/G ratio of 3.53 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts expect that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio is 78.23%.

Wall Street Analysts Forecast Growth

Several analysts have commented on KO shares. Citigroup upped their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. dropped their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Finally, Barclays upped their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a 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 $67.22.

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.