Vise Technologies Inc. Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Vise Technologies Inc. grew its stake in The Coca-Cola Company (NYSE:KO) by 40.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,656 shares of the company’s stock after purchasing an additional 17,099 shares during the period. Vise Technologies Inc.’s holdings in Coca-Cola were worth $3,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $31,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $38,000. Hoey Investments Inc. lifted its holdings in Coca-Cola by 41.9% in 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. Finally, MilWealth Group LLC acquired a new position in Coca-Cola in the fourth quarter valued at approximately $40,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group upped their price objective on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, April 30th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Piper Sandler upped 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. Evercore ISI upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $75.81.

Coca-Cola Stock Down 1.0%

NYSE:KO opened at $71.13 on Friday. 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 stock’s fifty day moving average is $71.04 and its two-hundred day moving average is $66.93. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38. The stock has a market capitalization of $306.16 billion, a price-to-earnings ratio of 28.80, 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 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company had revenue of $11.13 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio is currently 81.60%.

Insider Transactions at Coca-Cola

In other 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 sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. This represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the sale, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 462,407 shares of company stock valued at $32,990,056. 0.90% of the stock is currently owned by company insiders.

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.