The Coca-Cola Company (NYSE:KO) Shares Bought by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC grew its position in shares of The Coca-Cola Company (NYSE:KO) by 6.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 565,597 shares of the company’s stock after purchasing an additional 34,118 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Coca-Cola were worth $35,214,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new position in Coca-Cola in the 4th quarter worth about $27,000. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $37,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $38,000. Finally, MilWealth Group LLC acquired a new stake in shares of Coca-Cola in the fourth quarter worth $40,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of KO stock opened at $70.36 on Friday. The stock’s fifty day simple moving average is $67.77 and its 200 day simple moving average is $66.41. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The firm has a market cap of $302.80 billion, a price-to-earnings ratio of 28.49, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio is 82.59%.

Insider Activity at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KO shares. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday, February 13th. Evercore ISI lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

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.