Interval Partners LP Boosts Stock Position in The Coca-Cola Company (NYSE:KO)

Interval Partners LP grew its position in shares of The Coca-Cola Company (NYSE:KO) by 91.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 530,988 shares of the company’s stock after purchasing an additional 253,915 shares during the quarter. Interval Partners LP’s holdings in Coca-Cola were worth $33,059,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in Coca-Cola in the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the fourth quarter worth approximately $31,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Coca-Cola in the fourth quarter worth $38,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola during the 4th quarter valued at $37,000. Finally, Hoey Investments Inc. boosted its position in Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after buying an additional 181 shares during the period. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.8 %

NYSE:KO opened at $70.62 on Friday. 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 $303.97 billion, a P/E ratio of 28.59, a P/E/G 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. The firm has a 50-day simple moving average of $70.95 and a two-hundred day simple moving average of $66.64.

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

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent analyst reports. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada boosted their target price on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Finally, Evercore ISI boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $75.59.

Insider Buying and Selling at Coca-Cola

In related news, CFO John Murphy sold 88,658 shares of Coca-Cola stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $72.09, for a total value of $6,391,355.22. Following the completion of the sale, the chief financial officer now owns 205,511 shares of the company’s stock, valued at $14,815,287.99. The trade was a 30.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 462,407 shares of company stock worth $32,990,056. Company insiders own 0.97% of the company’s stock.

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.