The Coca-Cola Company (NYSE:KO) Position Boosted by Tang Capital Management LLC

Tang Capital Management LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 59.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,714 shares of the company’s stock after acquiring an additional 7,341 shares during the quarter. Tang Capital Management LLC’s holdings in Coca-Cola were worth $1,227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $31,000. Retirement Wealth Solutions LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $37,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $38,000. Finally, Hoey Investments Inc. grew its stake in shares of Coca-Cola by 41.9% in 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 in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 60,326 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the transaction, the executive vice president now owns 187,716 shares of the company’s stock, valued at $13,491,148.92. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 462,407 shares of company stock worth $32,990,056. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on KO. Evercore ISI boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler boosted their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Cfra Research raised Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Barclays restated an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, UBS Group boosted their target price on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, April 30th. 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 company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $75.59.

Coca-Cola Stock Up 0.6%

Shares of KO stock opened at $72.01 on Friday. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm has a market cap of $309.93 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The stock has a 50 day moving average of $70.88 and a 200-day moving average of $66.77. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. 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 company earned $0.72 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. Coca-Cola’s payout ratio is 81.60%.

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.