Gallacher Capital Management LLC Buys 5,179 Shares of The Coca-Cola Company (NYSE:KO)

Gallacher Capital Management LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 127.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,248 shares of the company’s stock after buying an additional 5,179 shares during the quarter. Gallacher Capital Management LLC’s holdings in Coca-Cola were worth $545,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Fi3 FINANCIAL ADVISORS LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth $267,000. SYM FINANCIAL Corp increased its stake in Coca-Cola by 6.6% during the fourth quarter. SYM FINANCIAL Corp now owns 6,693 shares of the company’s stock worth $394,000 after acquiring an additional 417 shares during the last quarter. Kerntke Otto McGlone Wealth Management Group raised its position in Coca-Cola by 3.9% during the fourth quarter. Kerntke Otto McGlone Wealth Management Group now owns 5,950 shares of the company’s stock valued at $351,000 after purchasing an additional 222 shares during the period. TCG Advisory Services LLC boosted its holdings in shares of Coca-Cola by 41.8% in the 4th quarter. TCG Advisory Services LLC now owns 92,933 shares of the company’s stock worth $5,477,000 after purchasing an additional 27,391 shares during the period. Finally, Royal Fund Management LLC increased its position in shares of Coca-Cola by 140.0% during the 4th quarter. Royal Fund Management LLC now owns 31,510 shares of the company’s stock valued at $1,857,000 after purchasing an additional 18,383 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group upped their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays lifted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup increased their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Evercore ISI upped their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $68.27.

Coca-Cola Stock Performance

Shares of NYSE KO traded up $0.18 during midday trading on Friday, reaching $62.17. 11,628,675 shares of the stock were exchanged, compared to its average volume of 13,782,690. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The firm has a market cap of $268.03 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 3.55 and a beta of 0.57. The firm has a 50-day simple moving average of $60.24 and a two-hundred day simple moving average of $59.19. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.25.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the business earned $0.68 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, analysts anticipate that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, June 14th. Coca-Cola’s payout ratio is 77.60%.

Insider Activity

In other news, CEO James Quincey sold 247,188 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Coca-Cola news, 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 transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders have sold a total of 323,107 shares of company stock worth $19,657,742 over the last 90 days. 0.97% of the stock is currently 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.