The Coca-Cola Company (NYSE:KO) Shares Bought by Johnson Financial Group Inc.

Johnson Financial Group Inc. raised its holdings in The Coca-Cola Company (NYSE:KO) by 107.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 10,567 shares of the company’s stock after acquiring an additional 5,470 shares during the period. Johnson Financial Group Inc.’s holdings in Coca-Cola were worth $623,000 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. Nomura Asset Management Co. Ltd. increased its holdings in shares of Coca-Cola by 3.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,919,876 shares of the company’s stock worth $113,138,000 after buying an additional 70,351 shares during the last quarter. Nixon Peabody Trust Co. increased its holdings in shares of Coca-Cola by 506.2% during the 4th quarter. Nixon Peabody Trust Co. now owns 188,866 shares of the company’s stock worth $11,130,000 after buying an additional 157,712 shares during the last quarter. Skopos Labs Inc. purchased a new stake in Coca-Cola during the 4th quarter worth $1,376,000. Congress Wealth Management LLC DE boosted its position in Coca-Cola by 17.1% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,213,818 shares of the company’s stock worth $71,530,000 after purchasing an additional 177,232 shares during the period. Finally, Hoylecohen LLC boosted its position in Coca-Cola by 0.3% during the 4th quarter. Hoylecohen LLC now owns 90,080 shares of the company’s stock worth $5,308,000 after purchasing an additional 230 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE KO traded down $0.09 during trading on Friday, reaching $62.00. The company had a trading volume of 8,203,136 shares, compared to its average volume of 11,042,451. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $63.76. The stock has a market cap of $267.09 billion, a PE ratio of 24.80, a PEG ratio of 3.51 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 1.04. The business’s 50 day moving average price is $61.08 and its 200-day moving average price is $59.90.

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

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Insider Buying and Selling

In other news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The shares were 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 SEC, which can be accessed through this hyperlink. In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 199,389 shares of company stock worth $12,322,179. 0.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KO. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Barclays increased their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Evercore ISI increased their price objective on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Argus raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, UBS Group raised their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $68.58.

About Coca-Cola

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.