Summit Investment Advisors Inc. Acquires 247 Shares of The Coca-Cola Company (NYSE:KO)

Summit Investment Advisors Inc. raised its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,601 shares of the company’s stock after acquiring an additional 247 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Coca-Cola were worth $3,648,000 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 stock. Crowley Wealth Management Inc. bought a new stake in Coca-Cola during the fourth quarter valued at about $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth approximately $37,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Finally, Hoey Investments Inc. lifted 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 currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were 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 owns 342,546 shares of the company’s stock, valued at $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Henrique Braun sold 25,277 shares of the company’s 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 transaction, the chief operating officer now 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 disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock worth $22,263,071 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.35 on Monday. 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 stock has a market capitalization of $307.04 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.79 and a beta of 0.45. The firm’s 50 day simple moving average is $69.60 and its 200-day simple moving average is $66.32. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.95.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.51 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Wells Fargo & Company upped their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Morgan Stanley upped their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Profile

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.