Eagle Global Advisors LLC Acquires 95,200 Shares of The Coca-Cola Company (NYSE:KO)

Eagle Global Advisors LLC grew its stake in shares of The Coca-Cola Company (NYSE:KO) by 368.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,008 shares of the company’s stock after acquiring an additional 95,200 shares during the period. Eagle Global Advisors LLC’s holdings in Coca-Cola were worth $7,534,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. Norges Bank bought a new stake in Coca-Cola during the fourth quarter valued at approximately $3,402,151,000. Northern Trust Corp grew its stake in Coca-Cola by 9.5% in the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after buying an additional 3,811,756 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $71.78 on Wednesday. The business has a 50-day simple moving average of $70.94 and a two-hundred day simple moving average of $66.59. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a market cap of $308.90 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. On average, analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. Coca-Cola’s payout ratio is currently 81.60%.

Insider Buying and Selling

In other news, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday, January 8th. Cfra Research upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. Wells Fargo & Company raised their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler raised their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $75.59.

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.