Convergence Investment Partners LLC Raises Holdings in The Coca-Cola Company (NYSE:KO)

Convergence Investment Partners LLC grew its position in shares of The Coca-Cola Company (NYSE:KO) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,256 shares of the company’s stock after purchasing an additional 2,915 shares during the quarter. Convergence Investment Partners LLC’s holdings in Coca-Cola were worth $1,724,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. ZRC Wealth Management LLC grew its holdings in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $30,000. Financial Connections Group Inc. purchased a new position in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Avion Wealth increased its stake in shares of Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after purchasing an additional 322 shares in the last quarter. Finally, Clear Investment Research LLC grew its stake in Coca-Cola by 36.1% in the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock worth $52,000 after acquiring an additional 246 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on KO shares. JPMorgan Chase & Co. lowered their target price on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. 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 report on Wednesday, January 17th. Finally, 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 report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $67.22.

Coca-Cola Price Performance

Shares of KO remained flat at $61.74 during mid-day trading on Friday. The stock had a trading volume of 10,994,262 shares, compared to its average volume of 12,842,353. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.69. 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 company has a market cap of $266.17 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 3.53 and a beta of 0.59. The company has a 50-day moving average price of $60.12 and a two-hundred day moving average price of $58.85.

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

Coca-Cola Increases Dividend

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

Insider Buying and Selling at Coca-Cola

In related 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 sale, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock worth $22,795,742 over the last ninety days. Company insiders own 0.97% 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.