Cache Advisors LLC Acquires Shares of 5,313 The Coca-Cola Company (NYSE:KO)

Cache Advisors 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 5,313 shares of the company’s stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $31,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Coca-Cola in the fourth quarter valued at $38,000. Hoey Investments Inc. increased its stake in Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after buying an additional 181 shares during the period. Finally, MilWealth Group LLC bought a new stake in Coca-Cola during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Wells Fargo & Company lifted their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Evercore ISI lifted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $75.81.

Coca-Cola Stock Up 0.9%

KO stock opened at $71.81 on Friday. The firm has a 50 day moving average of $71.09 and a 200 day moving average of $66.98. The stock has a market capitalization of $309.09 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. 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 $60.62 and a 52 week high of $74.38.

Coca-Cola (NYSE:KO) last released its 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. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Coca-Cola’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the business earned $0.72 EPS. Sell-side analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is presently 81.60%.

Insider Buying and Selling

In other news, CFO John Murphy sold 88,658 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were 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 of the company’s stock, valued at $14,815,287.99. This represents a 30.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total transaction of $4,335,629.62. Following the completion of the sale, the executive vice president now directly owns 187,716 shares in the company, valued at $13,491,148.92. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 462,407 shares of company stock worth $32,990,056 in the last three months. Corporate insiders own 0.90% of the company’s stock.

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.