Hennion & Walsh Asset Management Inc. Acquires 10,008 Shares of The Coca-Cola Company (NYSE:KO)

Hennion & Walsh Asset Management Inc. boosted its holdings in The Coca-Cola Company (NYSE:KO) by 15.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,548 shares of the company’s stock after acquiring an additional 10,008 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Coca-Cola were worth $4,683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $2,808,056,000. Fisher Asset Management LLC raised its position in shares of Coca-Cola by 11,138.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,977,819 shares of the company’s stock valued at $293,343,000 after buying an additional 4,933,527 shares in the last quarter. Pathstone Holdings LLC bought a new stake in shares of Coca-Cola during the 4th quarter worth $193,342,000. Putnam Investments LLC grew its position in Coca-Cola by 32.8% in the fourth quarter. Putnam Investments LLC now owns 12,032,095 shares of the company’s stock worth $709,051,000 after acquiring an additional 2,973,234 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Coca-Cola by 7.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,564,179 shares of the company’s stock valued at $2,390,448,000 after acquiring an additional 2,893,061 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Down 0.4 %

NYSE:KO traded down $0.26 during mid-day trading on Friday, reaching $63.65. 17,358,827 shares of the company’s stock traded hands, compared to its average volume of 11,241,235. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The Coca-Cola Company has a 12-month low of $51.55 and a 12-month high of $64.36. The firm has a market capitalization of $274.20 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 3.61 and a beta of 0.59. The company has a 50 day moving average price of $62.72 and a 200-day moving average price of $60.77.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating 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 business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.485 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.94 annualized dividend and a yield of 3.05%. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on KO shares. StockNews.com cut Coca-Cola from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Barclays increased their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. UBS Group increased their target price on shares of Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, BNP Paribas began coverage on shares of Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price target for the company. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and an average target price of $68.83.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now owns 218,880 shares in the company, valued at $13,644,979.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Nikolaos Koumettis sold 80,891 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $62.34, for a total value of $5,042,744.94. Following the completion of the transaction, the insider now directly owns 218,880 shares in the company, valued at approximately $13,644,979.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Monica Howard Douglas sold 8,874 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $63.31, for a total value of $561,812.94. Following the completion of the sale, the executive vice president now directly owns 33,638 shares in the company, valued at $2,129,621.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 223,665 shares of company stock valued at $13,995,465. 0.97% of the stock is currently owned by corporate insiders.

About Coca-Cola

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.