Surevest Inc. Increases Stock Position in The Coca-Cola Co (NYSE:KO)

Surevest Inc. increased its position in The Coca-Cola Co (NYSE:KO) by 34.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,399 shares of the company’s stock after acquiring an additional 9,276 shares during the period. Surevest Inc.’s holdings in The Coca-Cola were worth $2,015,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA purchased a new position in The Coca-Cola in the 4th quarter worth approximately $31,000. Quantum Capital Management purchased a new position in The Coca-Cola in the 3rd quarter worth approximately $34,000. Simon Quick Advisors LLC raised its holdings in The Coca-Cola by 128.9% in the 4th quarter. Simon Quick Advisors LLC now owns 673 shares of the company’s stock worth $37,000 after acquiring an additional 379 shares during the last quarter. KCS Wealth Advisory purchased a new stake in The Coca-Cola during the 3rd quarter valued at $41,000. Finally, Proffitt & Goodson Inc. purchased a new stake in The Coca-Cola during the 3rd quarter valued at $44,000. Institutional investors own 67.54% of the company’s stock.

In related news, SVP Lisa Chang acquired 500 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was acquired at an average price of $54.55 per share, with a total value of $27,275.00. Following the acquisition, the senior vice president now directly owns 5,948 shares of the company’s stock, valued at $324,463.40. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Nancy Quan sold 24,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $53.90, for a total transaction of $1,293,600.00. Following the transaction, the senior vice president now directly owns 189,049 shares of the company’s stock, valued at approximately $10,189,741.10. The disclosure for this sale can be found here. Insiders sold a total of 132,678 shares of company stock valued at $7,264,570 in the last ninety days. 1.33% of the stock is currently owned by insiders.

A number of brokerages have weighed in on KO. Guggenheim set a $59.00 target price on shares of The Coca-Cola and gave the company a “buy” rating in a research note on Friday, October 18th. Evercore ISI reissued a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research report on Sunday, November 17th. BMO Capital Markets boosted their price objective on shares of The Coca-Cola from $52.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. UBS Group raised shares of The Coca-Cola from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $55.00 to $63.00 in a research report on Wednesday, October 23rd. Finally, Deutsche Bank boosted their price objective on shares of The Coca-Cola from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $57.05.

Shares of The Coca-Cola stock opened at $56.09 on Tuesday. The company has a market capitalization of $237.92 billion, a P/E ratio of 26.96, a P/E/G ratio of 3.78 and a beta of 0.42. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.79 and a current ratio of 0.92. The company has a fifty day moving average of $54.54 and a 200 day moving average of $53.70. The Coca-Cola Co has a fifty-two week low of $44.42 and a fifty-two week high of $56.23.

The Coca-Cola (NYSE:KO) last issued its earnings results on Friday, October 18th. The company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.42 billion. The Coca-Cola had a net margin of 22.41% and a return on equity of 45.21%. The Coca-Cola’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. Analysts forecast that The Coca-Cola Co will post 2.1 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.85%. The ex-dividend date was Friday, November 29th. The Coca-Cola’s dividend payout ratio is currently 76.92%.

About The Coca-Cola

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

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Institutional Ownership by Quarter for The Coca-Cola (NYSE:KO)

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