Redmond Asset Management LLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Redmond Asset Management LLC increased its position in shares of The Coca-Cola Company (NYSE:KO) by 291.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,974 shares of the company’s stock after purchasing an additional 8,918 shares during the period. Redmond Asset Management LLC’s holdings in Coca-Cola were worth $746,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Hara Capital LLC purchased a new position in shares of Coca-Cola during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the 3rd quarter worth approximately $36,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola during the 4th quarter valued at $37,000. MilWealth Group LLC bought a new position in Coca-Cola in the 4th quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola in the third quarter worth $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KO. JPMorgan Chase & Co. lowered their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. UBS Group boosted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley raised their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Performance

KO stock opened at $71.37 on Friday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The firm has a market cap of $307.46 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 3.79 and a beta of 0.61. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a 50-day simple moving average of $63.71 and a two-hundred day simple moving average of $66.42.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. Coca-Cola’s dividend payout ratio (DPR) is presently 78.54%.

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.