Sivia Capital Partners LLC Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Sivia Capital Partners LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 10.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,985 shares of the company’s stock after purchasing an additional 878 shares during the quarter. Sivia Capital Partners LLC’s holdings in Coca-Cola were worth $644,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KO. Tallon Kerry Patrick purchased a new stake in Coca-Cola during the 4th quarter valued at about $241,000. Brighton Jones LLC boosted its holdings in Coca-Cola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after acquiring an additional 4,591 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Coca-Cola during the 4th quarter valued at about $24,472,000. Revolve Wealth Partners LLC boosted its holdings in Coca-Cola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after acquiring an additional 293 shares during the period. Finally, Consolidated Portfolio Review Corp boosted its holdings in Coca-Cola by 17.1% during the 4th quarter. Consolidated Portfolio Review Corp now owns 5,314 shares of the company’s stock valued at $331,000 after acquiring an additional 775 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer now owns 205,511 shares of the company’s stock, valued at $14,815,287.99. This trade represents a 30.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the transaction, the chief executive officer now directly owns 275,946 shares of the company’s stock, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 440,664 shares of company stock worth $31,730,532 in the last quarter. 0.97% of the stock is owned by company insiders.

Coca-Cola Trading Up 0.6%

KO opened at $71.37 on Friday. The stock has a market cap of $307.20 billion, a PE ratio of 28.89, a PEG ratio of 3.79 and a beta of 0.46. 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 business has a 50 day moving average of $71.39 and a 200-day moving average of $67.60. 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, beating 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 return on equity of 45.37% and a net margin of 22.59%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 2.86%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is presently 81.60%.

Analyst Ratings Changes

Several brokerages recently weighed in on KO. Royal Bank of Canada increased their target price on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. increased their target price on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Cfra Research upgraded Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, Evercore ISI increased their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Two research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $75.81.

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.