Cross Staff Investments Inc Boosts Holdings in The Coca-Cola Company (NYSE:KO)

Cross Staff Investments Inc lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,299 shares of the company’s stock after acquiring an additional 584 shares during the period. Cross Staff Investments Inc’s holdings in Coca-Cola were worth $607,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KO. ZRC Wealth Management LLC raised its position in shares of Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares during the period. Criterion Capital Advisors LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth about $30,000. Financial Connections Group Inc. acquired a new position in shares of Coca-Cola in the 4th quarter valued at about $38,000. Avion Wealth increased its position in Coca-Cola by 64.8% during the 4th quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after purchasing an additional 322 shares in the last quarter. Finally, Clear Investment Research LLC raised its holdings in Coca-Cola by 36.1% in the third quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock valued at $52,000 after buying an additional 246 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 0.1 %

KO traded up $0.07 on Friday, reaching $61.81. The company’s stock had a trading volume of 5,757,537 shares, compared to its average volume of 13,926,213. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 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 $64.69. The business’s 50 day moving average is $60.07 and its 200 day moving average is $58.76. The stock has a market cap of $266.47 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.52 and a beta of 0.59.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter last year, the company earned $0.45 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current fiscal 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 $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent research reports. Citigroup increased their price objective 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. Barclays upped their target price on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. dropped their target price on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $67.22.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders sold a total of 375,407 shares of company stock valued at $22,795,742 over the last three months. 0.97% of the stock is owned by insiders.

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.