GUNN & Co INVESTMENT MANAGEMENT INC. Makes New Investment in The Coca-Cola Company (NYSE:KO)

GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in The Coca-Cola Company (NYSE:KO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 25,007 shares of the company’s stock, valued at approximately $1,474,000.

Several other institutional investors have also modified their holdings of the company. ZRC Wealth Management LLC raised its holdings in Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in shares of Coca-Cola during the fourth quarter worth about $30,000. Financial Connections Group Inc. acquired a new stake in shares of Coca-Cola during the fourth quarter worth about $38,000. Avion Wealth boosted its position in shares of Coca-Cola by 64.8% in the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after purchasing an additional 322 shares during the period. Finally, Fortitude Family Office LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at about $53,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Up 0.3 %

Coca-Cola stock opened at $62.17 on Friday. The stock’s 50 day moving average price is $60.24 and its 200 day moving average price is $59.12. The company has a market cap of $268.03 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 3.54 and a beta of 0.57. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.95. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.25.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 EPS for the quarter, topping 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 company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date 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 77.60%.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders have sold 323,107 shares of company stock valued at $19,657,742 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on KO shares. Citigroup raised their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. UBS Group lifted their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays boosted their price target on Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Evercore ISI increased their price objective on Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $68.27.

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.