Flynn Zito Capital Management LLC Buys 583 Shares of The Coca-Cola Company (NYSE:KO)

Flynn Zito Capital Management LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,988 shares of the company’s stock after acquiring an additional 583 shares during the quarter. Coca-Cola makes up about 0.5% of Flynn Zito Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Flynn Zito Capital Management LLC’s holdings in Coca-Cola were worth $765,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ninety One SA PTY Ltd purchased a new stake in shares of Coca-Cola during the 4th quarter valued at $16,799,000. Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of Coca-Cola by 1.8% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 35,508 shares of the company’s stock valued at $2,093,000 after buying an additional 620 shares during the last quarter. Ninety One UK Ltd purchased a new position in shares of Coca-Cola during the 4th quarter valued at about $16,005,000. Federated Hermes Inc. grew its position in shares of Coca-Cola by 12.9% during the 4th quarter. Federated Hermes Inc. now owns 4,159,160 shares of the company’s stock valued at $245,099,000 after acquiring an additional 473,737 shares during the period. Finally, Flossbach Von Storch AG grew its position in shares of Coca-Cola by 8.4% during the 4th quarter. Flossbach Von Storch AG now owns 960,848 shares of the company’s stock valued at $56,623,000 after acquiring an additional 74,348 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Barclays raised their target price on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Citigroup raised their target price on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. raised their target price on Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.18.

Coca-Cola Price Performance

KO traded up $0.40 during trading on Thursday, reaching $58.91. The company’s stock had a trading volume of 11,106,050 shares, compared to its average volume of 13,742,084. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The firm has a fifty day simple moving average of $59.94 and a two-hundred day simple moving average of $58.52. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.99. The company has a market cap of $253.97 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 3.29 and a beta of 0.59.

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

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is presently 78.23%.

Insider Activity

In other news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction that occurred on 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Company 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.