Brooks Moore & Associates Inc. Increases Position in The Coca-Cola Company (NYSE:KO)

Brooks Moore & Associates Inc. grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 96,757 shares of the company’s stock after purchasing an additional 555 shares during the period. Coca-Cola comprises approximately 3.6% of Brooks Moore & Associates Inc.’s portfolio, making the stock its 3rd biggest position. Brooks Moore & Associates Inc.’s holdings in Coca-Cola were worth $6,024,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Peachtree Investment Partners LLC raised its position in Coca-Cola by 1.4% during the fourth quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company’s stock valued at $697,000 after acquiring an additional 157 shares in the last quarter. Fort Sheridan Advisors LLC increased its holdings in shares of Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after purchasing an additional 161 shares in the last quarter. Excalibur Management Corp lifted its stake in shares of Coca-Cola by 0.6% in the 4th quarter. Excalibur Management Corp now owns 29,412 shares of the company’s stock valued at $1,831,000 after purchasing an additional 161 shares during the period. Wells Trecaso Financial Group LLC boosted its holdings in Coca-Cola by 4.8% during the fourth quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock worth $225,000 after buying an additional 164 shares in the last quarter. Finally, Atlas Brown Inc. grew its position in Coca-Cola by 0.8% during the fourth quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock valued at $1,309,000 after buying an additional 166 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KO has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Piper Sandler raised their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Royal Bank of Canada upped their target price on Coca-Cola from $73.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Evercore ISI boosted their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $75.59.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nikolaos Koumettis sold 55,500 shares of Coca-Cola stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the completion of the transaction, the insider now owns 246,909 shares of the company’s stock, valued at $17,533,008.09. The trade was a 18.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 313,423 shares of company stock worth $22,263,071. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 0.1 %

Shares of KO opened at $71.71 on Tuesday. The company’s 50-day moving average price is $70.92 and its 200 day moving average price is $66.55. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a market cap of $308.61 billion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the firm earned $0.72 EPS. The business’s revenue was down .7% on a year-over-year basis. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

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.