Hoey Investments Inc. Has $38,000 Position in The Coca-Cola Company (NYSE:KO)

Hoey Investments Inc. boosted its position in The Coca-Cola Company (NYSE:KO) by 41.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 613 shares of the company’s stock after buying an additional 181 shares during the quarter. Hoey Investments Inc.’s holdings in Coca-Cola were worth $38,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $27,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $31,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $37,000. Finally, MilWealth Group LLC bought a new position in shares of Coca-Cola in the fourth quarter valued at $40,000. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on KO shares. JPMorgan Chase & Co. cut their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated Monday, February 24th. The shares were 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 a total of 313,423 shares of company stock worth $22,263,071 over the last three months. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.69 on Tuesday. The business has a fifty day moving average price of $67.95 and a two-hundred day moving average price of $66.38. The stock has a market capitalization of $308.50 billion, a PE ratio of 29.02, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 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.