Duff & Phelps Investment Management Co. Increases Stake in The Coca-Cola Company (NYSE:KO)

Duff & Phelps Investment Management Co. raised its position in The Coca-Cola Company (NYSE:KO) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 43,420 shares of the company’s stock after acquiring an additional 400 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Coca-Cola were worth $2,559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Enterprise Bank & Trust Co boosted its holdings in Coca-Cola by 3.4% in the 4th 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 in the last quarter. Elk River Wealth Management LLC boosted its stake in shares of Coca-Cola by 1.6% in the fourth quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after buying an additional 170 shares in 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 worth $274,000 after acquiring an additional 170 shares during the period. Wayfinding Financial LLC raised its position in Coca-Cola by 1.8% in the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock worth $573,000 after acquiring an additional 175 shares in the last quarter. Finally, John G Ullman & Associates Inc. raised its position in Coca-Cola by 2.2% in the fourth quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock worth $476,000 after acquiring an additional 175 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KO has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. decreased their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Finally, Barclays upped their target price on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.22.

Insider Activity

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 transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders have sold 323,107 shares of company stock worth $19,657,742 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Stock Performance

NYSE:KO opened at $61.76 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $266.26 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59. The firm has a 50-day moving average price of $60.19 and a two-hundred day moving average price of $59.02. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.69.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the company posted $0.68 EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts expect that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is 78.23%.

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.