The Coca-Cola Company (NYSE:KO) Shares Acquired by Summit Asset Management LLC

Summit Asset Management LLC raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,324 shares of the company’s stock after purchasing an additional 723 shares during the period. Summit Asset Management LLC’s holdings in Coca-Cola were worth $1,316,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of KO. West Family Investments Inc. grew its holdings in shares of Coca-Cola by 12.8% during the 4th quarter. West Family Investments Inc. now owns 12,207 shares of the company’s stock worth $719,000 after purchasing an additional 1,385 shares during the period. Ashburton Jersey Ltd increased its position in shares of Coca-Cola by 3.1% in the fourth quarter. Ashburton Jersey Ltd now owns 17,039 shares of the company’s stock worth $954,000 after acquiring an additional 512 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Coca-Cola by 11,138.6% in the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after acquiring an additional 4,933,527 shares during the period. LGT Fund Management Co Ltd. lifted its holdings in shares of Coca-Cola by 27.3% during the 4th quarter. LGT Fund Management Co Ltd. now owns 55,000 shares of the company’s stock valued at $3,231,000 after acquiring an additional 11,800 shares in the last quarter. Finally, LGT Group Foundation boosted its position in Coca-Cola by 11.7% during the 4th quarter. LGT Group Foundation now owns 521,252 shares of the company’s stock worth $30,624,000 after purchasing an additional 54,563 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the business’s 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 of the company’s stock, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction on Wednesday, March 13th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the stock in a transaction on Thursday, February 22nd. The stock was 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 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 quarter, insiders sold 323,107 shares of company stock worth $19,657,742. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. UBS Group boosted their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays upped their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Evercore ISI lifted their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Citigroup lifted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.18.

Coca-Cola Stock Performance

Shares of NYSE KO traded up $0.40 during midday trading on Thursday, hitting $62.33. The company’s stock had a trading volume of 4,127,896 shares, compared to its average volume of 13,966,068. The firm has a market cap of $268.72 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.53 and a beta of 0.57. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.25. The firm’s fifty day moving average price is $60.21 and its 200-day moving average price is $59.04. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 1.04.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current fiscal 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 issued a dividend of $0.485 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.11%. Coca-Cola’s payout ratio is 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.