D.B. Root & Company LLC Purchases 1,411 Shares of The Coca-Cola Company (NYSE:KO)

D.B. Root & Company LLC raised its position in shares of The Coca-Cola Company (NYSE:KO) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,974 shares of the company’s stock after acquiring an additional 1,411 shares during the period. Coca-Cola makes up 0.8% of D.B. Root & Company LLC’s portfolio, making the stock its 23rd biggest holding. D.B. Root & Company LLC’s holdings in Coca-Cola were worth $2,446,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Patrick M Sweeney & Associates Inc. bought a new stake in shares of Coca-Cola in the fourth quarter valued at about $410,000. Beacon Pointe Advisors LLC raised its position in Coca-Cola by 24.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 450,523 shares of the company’s stock worth $26,549,000 after purchasing an additional 89,139 shares in the last quarter. Insigneo Advisory Services LLC raised its position in Coca-Cola by 12.2% in the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after purchasing an additional 4,527 shares in the last quarter. Birchcreek Wealth Management LLC raised its position in Coca-Cola by 12.6% in the fourth quarter. Birchcreek Wealth Management LLC now owns 4,539 shares of the company’s stock worth $267,000 after purchasing an additional 507 shares in the last quarter. Finally, Wahed Invest LLC raised its position in Coca-Cola by 10.3% in the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after purchasing an additional 5,707 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coca-Cola

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Evercore ISI increased their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. StockNews.com lowered shares of Coca-Cola from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. BNP Paribas started coverage on shares of Coca-Cola in a report on Monday, June 24th. They set an “outperform” rating and a $72.00 price objective for the company. UBS Group raised their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Barclays raised their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $68.83.

Coca-Cola Price Performance

Shares of Coca-Cola stock traded down $0.26 during midday trading on Friday, reaching $63.65. The company had a trading volume of 17,358,827 shares, compared to its average volume of 11,241,235. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $274.20 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59. The stock has a fifty day simple moving average of $62.72 and a 200 day simple moving average of $60.78. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.36.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. Coca-Cola’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current year.

Coca-Cola Dividend Announcement

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

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.