Convergence Investment Partners LLC Acquires 2,915 Shares of The Coca-Cola Company (NYSE:KO)

Convergence Investment Partners LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 11.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,256 shares of the company’s stock after purchasing an additional 2,915 shares during the period. Convergence Investment Partners LLC’s holdings in Coca-Cola were worth $1,724,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in KO. ZRC Wealth Management LLC lifted its stake in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $30,000. Financial Connections Group Inc. acquired a new stake in shares of Coca-Cola during the fourth quarter worth $38,000. Avion Wealth increased its position in shares of Coca-Cola by 64.8% during the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after buying an additional 322 shares during the period. Finally, Clear Investment Research LLC increased its position in shares of Coca-Cola by 36.1% during the third quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after buying an additional 246 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock 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 stock has a 50 day moving average price of $60.12 and a two-hundred day moving average price of $58.85. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.69. The stock has a market cap of $266.17 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $10.68 billion. During the same quarter last year, the company posted $0.45 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors 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 of this dividend was Thursday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on KO shares. Barclays increased their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Finally, Citigroup raised their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.22.

Insider Buying and Selling

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

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.