Cedar Point Capital Partners LLC Invests $273,000 in The Coca-Cola Company (NYSE:KO)

Cedar Point Capital Partners LLC bought a new position in The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,633 shares of the company’s stock, valued at approximately $273,000.

Several other institutional investors and hedge funds also recently modified their holdings of KO. ZRC Wealth Management LLC boosted its holdings in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the last quarter. Criterion Capital Advisors LLC purchased a new position in Coca-Cola in the fourth quarter valued at about $30,000. Financial Connections Group Inc. purchased a new position in Coca-Cola in the fourth quarter valued at about $38,000. Avion Wealth boosted its holdings in Coca-Cola by 64.8% in the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after purchasing an additional 322 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Coca-Cola in the fourth quarter valued at about $53,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup upped their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. cut their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Finally, Barclays upped their price objective on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $67.22.

Coca-Cola Stock Performance

Shares of Coca-Cola stock remained flat at $61.74 on Friday. The stock had a trading volume of 10,994,262 shares, compared to its average volume of 12,842,353. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a fifty day moving average price of $60.12 and a 200-day moving average price of $58.82. The stock has a market capitalization of $266.17 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.69.

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

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio is 78.23%.

Insider Buying and Selling

In related news, CEO James Quincey sold 247,188 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

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.