Landing Point Financial Group LLC Purchases New Position in The Coca-Cola Company (NYSE:KO)

Landing Point Financial Group LLC acquired a new stake in shares of The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,443 shares of the company’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Crowley Wealth Management Inc. bought a new stake in Coca-Cola during the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola during the 4th quarter valued at approximately $31,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola during the 4th quarter valued at $37,000. Murphy & Mullick Capital Management Corp purchased a new position in Coca-Cola during the fourth quarter worth $38,000. Finally, Hoey Investments Inc. increased its position in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after acquiring an additional 181 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Evercore ISI raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $74.59.

Insider Buying and Selling

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock worth $22,263,071 in the last 90 days. Insiders own 0.90% of the company’s stock.

Coca-Cola Trading Up 1.8 %

NYSE:KO opened at $72.99 on Friday. The firm has a 50 day moving average of $70.39 and a 200 day moving average of $66.39. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 52 week low of $59.72 and a 52 week high of $73.95. The stock has a market capitalization of $314.13 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 82.59%.

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.