The Coca-Cola Company (NYSE:KO) Shares Acquired by Flynn Zito Capital Management LLC

Flynn Zito Capital Management LLC grew its holdings in The Coca-Cola Company (NYSE:KO) by 4.7% during the 4th quarter, Holdings Channel reports. The firm owned 12,988 shares of the company’s stock after buying an additional 583 shares during the period. Coca-Cola comprises approximately 0.5% of Flynn Zito Capital Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Flynn Zito Capital Management LLC’s holdings in Coca-Cola were worth $765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of KO. Castleview Partners LLC increased its position in Coca-Cola by 4.4% in the 1st quarter. Castleview Partners LLC now owns 3,973 shares of the company’s stock valued at $246,000 after acquiring an additional 167 shares in the last quarter. Enterprise Bank & Trust Co boosted its stake in Coca-Cola by 3.4% during the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after acquiring an additional 167 shares during the last quarter. Elk River Wealth Management LLC boosted its stake in Coca-Cola by 1.6% during the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after acquiring an additional 170 shares during the last quarter. KRS Capital Management LLC boosted its stake in Coca-Cola by 3.8% during the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock worth $274,000 after acquiring an additional 170 shares during the last quarter. Finally, Somerville Kurt F boosted its stake in Coca-Cola by 0.8% during the 1st quarter. Somerville Kurt F now owns 21,377 shares of the company’s stock worth $1,325,000 after acquiring an additional 172 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KO has been the topic of a number of research reports. Barclays lifted their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, Citigroup lifted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $67.18.

Coca-Cola Stock Performance

Shares of NYSE:KO traded up $0.40 on Thursday, hitting $58.91. The company had a trading volume of 11,106,050 shares, compared to its average volume of 13,742,084. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.99. The stock has a market cap of $253.97 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 3.29 and a beta of 0.59. The stock has a 50 day moving average price of $59.94 and a 200 day moving average price of $58.52. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. Coca-Cola’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 earnings per share. Analysts expect that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s payout ratio is presently 78.23%.

Insider Activity

In other news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now owns 143,383 shares of the company’s stock, valued at $8,602,980. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Nancy Quan sold 57,368 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is owned by company insiders.

Coca-Cola Company 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.