RiverFront Investment Group LLC Has $5.47 Million Position in The Coca-Cola Company (NYSE:KO)

RiverFront Investment Group LLC increased its position in The Coca-Cola Company (NYSE:KO) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,741 shares of the company’s stock after buying an additional 638 shares during the quarter. RiverFront Investment Group LLC’s holdings in Coca-Cola were worth $5,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in KO. ZRC Wealth Management LLC boosted its holdings in shares of 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 position in shares of Coca-Cola during the 4th quarter worth approximately $30,000. Financial Connections Group Inc. bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Avion Wealth boosted its holdings in shares of Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after buying an additional 322 shares in the last quarter. Finally, Clear Investment Research LLC boosted its holdings 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 worth $52,000 after buying an additional 246 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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. In the last 90 days, insiders sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

KO remained flat at $61.74 during trading hours on Friday. The company had a trading volume of 10,994,262 shares, compared to its average volume of 12,842,353. The firm’s 50-day simple moving average is $60.12 and its two-hundred day simple moving average is $58.85. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.69. The stock has a market capitalization of $266.17 billion, a PE ratio of 24.90, a PEG ratio of 3.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The company had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the firm posted $0.45 EPS. The firm’s revenue for the quarter 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 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 3.14%. This is a positive change 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

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Citigroup increased their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Barclays increased their price target on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.22.

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.