Metis Global Partners LLC Acquires 20,859 Shares of The Coca-Cola Company (NYSE:KO)

Metis Global Partners LLC increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 204,697 shares of the company’s stock after purchasing an additional 20,859 shares during the period. Metis Global Partners LLC’s holdings in Coca-Cola were worth $12,063,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. ZRC Wealth Management LLC raised its position in shares of Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares in 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. bought a new position in Coca-Cola in the fourth quarter worth about $38,000. Avion Wealth lifted its position in shares of Coca-Cola by 64.8% during the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after buying an additional 322 shares during the last quarter. Finally, Clear Investment Research LLC boosted its holdings in shares of Coca-Cola by 36.1% in the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock valued at $52,000 after buying an additional 246 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

NYSE KO traded up $0.18 during trading hours on Friday, reaching $62.17. The stock had a trading volume of 11,628,675 shares, compared to its average volume of 13,782,690. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.25. The stock has a fifty day moving average of $60.24 and a 200 day moving average of $59.19. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 1.04. The stock has a market cap of $268.03 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 3.55 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its quarterly earnings data 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 business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Announces Dividend

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 paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. Coca-Cola’s payout ratio is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In related news, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Coca-Cola news, CEO James Quincey sold 247,188 shares of the company’s 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 transaction, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,107 shares of company stock worth $19,657,742. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

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

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.