The Coca-Cola Company (NYSE:KO) Stock Position Increased by Dover Advisors LLC

Dover Advisors LLC increased its stake in The Coca-Cola Company (NYSE:KO) by 536.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,068 shares of the company’s stock after buying an additional 59,906 shares during the period. Coca-Cola accounts for about 2.2% of Dover Advisors LLC’s holdings, making the stock its 7th largest holding. Dover Advisors LLC’s holdings in Coca-Cola were worth $5,126,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola in the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola in the 4th quarter valued at approximately $31,000. REAP Financial Group LLC lifted its position in Coca-Cola by 57.5% in the 4th quarter. REAP Financial Group LLC now owns 570 shares of the company’s stock valued at $35,000 after acquiring an additional 208 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Coca-Cola in the 4th quarter valued at approximately $38,000. Finally, Hoey Investments Inc. lifted its position in 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 acquiring an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler upped their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. UBS Group upped their price objective on Coca-Cola from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $81.00 price objective on shares of Coca-Cola in a research report on Monday, June 9th. Barclays reissued an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, Royal Bank of Canada increased their price target on Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Buy” and a consensus target price of $76.00.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $70.94 on Friday. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The stock’s fifty day moving average is $71.56 and its 200 day moving average is $67.84. The stock has a market cap of $305.36 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.79 and a beta of 0.46. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last announced its 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 for the quarter, compared to analysts’ expectations of $11.23 billion. During the same period last year, the firm earned $0.72 EPS. Coca-Cola’s revenue for the quarter was down .7% compared to the same quarter last year. Sell-side analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. Coca-Cola’s payout ratio is presently 81.60%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Beatriz R. Perez sold 60,326 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.87, for a total value of $4,335,629.62. Following the completion of the sale, the executive vice president now owns 187,716 shares in the company, valued at approximately $13,491,148.92. This represents a 24.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 266,403 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer now owns 275,946 shares of the company’s stock, valued at $19,884,668.76. The trade was a 49.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 415,387 shares of company stock worth $29,923,985. Corporate insiders own 0.97% of the company’s stock.

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.