Cornercap Investment Counsel Inc. Has $348,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Cornercap Investment Counsel Inc. decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,907 shares of the company’s stock after selling 208 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Coca-Cola were worth $348,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of KO. Moneta Group Investment Advisors LLC boosted its position in Coca-Cola by 103,297.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after purchasing an additional 57,678,466 shares during the last quarter. Norges Bank acquired a new stake in Coca-Cola during the fourth quarter valued at $2,937,315,000. Morgan Stanley boosted its position in Coca-Cola by 15.7% during the fourth quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock valued at $5,031,669,000 after purchasing an additional 10,722,435 shares during the last quarter. Barclays PLC boosted its position in Coca-Cola by 164.7% during the second quarter. Barclays PLC now owns 14,430,093 shares of the company’s stock valued at $868,981,000 after purchasing an additional 8,979,379 shares during the last quarter. Finally, Capital World Investors boosted its position in Coca-Cola by 61.4% during the first quarter. Capital World Investors now owns 10,764,084 shares of the company’s stock valued at $667,373,000 after purchasing an additional 4,095,881 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares in the company, valued at $8,602,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares in the company, valued at $8,602,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 247,188 shares of the business’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 transaction, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The disclosure for this sale can be found here. Insiders have sold 375,407 shares of company stock worth $22,795,742 over the last three months. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KO shares. JPMorgan Chase & Co. boosted their price target on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Citigroup boosted 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, Barclays boosted their price target on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.18.

Coca-Cola Price Performance

NYSE KO opened at $58.51 on Thursday. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a market capitalization of $252.25 billion, a PE ratio of 23.59, a P/E/G ratio of 3.29 and a beta of 0.59. The stock has a 50-day simple moving average of $59.94 and a 200 day simple moving average of $58.52.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.32%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is currently 78.23%.

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.