Royal Fund Management LLC Boosts Holdings in The Coca-Cola Company (NYSE:KO)

Royal Fund Management LLC grew its position in The Coca-Cola Company (NYSE:KO) by 140.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,510 shares of the company’s stock after buying an additional 18,383 shares during the period. Royal Fund Management LLC’s holdings in Coca-Cola were worth $1,857,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KO. Enterprise Bank & Trust Co grew its holdings in Coca-Cola by 3.4% during the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after purchasing an additional 167 shares during the last quarter. Elk River Wealth Management LLC grew its holdings in Coca-Cola by 1.6% during the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after purchasing an additional 170 shares during the last quarter. KRS Capital Management LLC grew its holdings in Coca-Cola by 3.8% during the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares during the last quarter. Wayfinding Financial LLC grew its holdings in Coca-Cola by 1.8% during the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after purchasing an additional 175 shares during the last quarter. Finally, John G Ullman & Associates Inc. grew its holdings in Coca-Cola by 2.2% during the fourth quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock valued at $476,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $13,594,097.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction 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 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 quarter, insiders have sold 323,107 shares of company stock worth $19,657,742. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.3 %

Shares of KO traded up $0.18 on Friday, hitting $62.17. The company’s stock had a trading volume of 11,628,675 shares, compared to its average volume of 13,782,690. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The firm’s fifty day moving average price is $60.24 and its 200-day moving average price is $59.12. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.25. The firm has a market capitalization of $268.03 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 3.55 and a beta of 0.57.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the firm earned $0.68 EPS. Coca-Cola’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that The Coca-Cola Company will post 2.82 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group raised their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday. Evercore ISI lifted their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays lifted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

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.