Johnson & White Wealth Management LLC Makes New Investment in The Coca-Cola Company (NYSE:KO)

Johnson & White Wealth Management LLC bought a new stake in The Coca-Cola Company (NYSE:KO) during the fourth quarter, Holdings Channel.com reports. The fund bought 13,997 shares of the company’s stock, valued at approximately $866,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quarry LP acquired a new position in Coca-Cola during the second quarter worth approximately $27,000. Hara Capital LLC purchased a new position in Coca-Cola in the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Coca-Cola in the third quarter valued at about $36,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola in the third quarter valued at approximately $43,000. Finally, ORG Wealth Partners LLC purchased a new position in Coca-Cola in the third quarter worth $58,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Up 1.0 %

Coca-Cola stock opened at $61.68 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market cap of $265.70 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.83 and a beta of 0.61. The company’s 50-day moving average price is $62.84 and its two-hundred day moving average price is $66.48. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the firm earned $0.74 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts expect that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.15%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

Several analysts recently commented on KO shares. Piper Sandler assumed coverage on shares of Coca-Cola in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective for the company. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Barclays lowered their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $72.60.

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.