PCG Asset Management LLC Buys New Shares in The Coca-Cola Company (NYSE:KO)

PCG Asset Management LLC purchased a new position in The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,890 shares of the company’s stock, valued at approximately $304,000.

Other hedge funds have also added to or reduced their stakes in the company. Levin Capital Strategies L.P. boosted its holdings in Coca-Cola by 2.7% during the 4th quarter. Levin Capital Strategies L.P. now owns 235,701 shares of the company’s stock valued at $14,675,000 after acquiring an additional 6,162 shares during the period. Sherman Asset Management Inc. bought a new stake in Coca-Cola in the fourth quarter valued at approximately $214,000. Onefund LLC boosted its stake in shares of Coca-Cola by 2.9% during the fourth quarter. Onefund LLC now owns 10,481 shares of the company’s stock valued at $653,000 after purchasing an additional 296 shares during the period. Richard W. Paul & Associates LLC grew its holdings in shares of Coca-Cola by 2.1% in the fourth quarter. Richard W. Paul & Associates LLC now owns 12,442 shares of the company’s stock worth $775,000 after purchasing an additional 259 shares during the last quarter. Finally, West Michigan Advisors LLC raised its holdings in Coca-Cola by 3.4% during the 4th quarter. West Michigan Advisors LLC now owns 11,398 shares of the company’s stock valued at $710,000 after buying an additional 380 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Up 0.5 %

Coca-Cola stock opened at $71.20 on Friday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The stock has a fifty day simple moving average of $64.53 and a two-hundred day simple moving average of $66.51. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a market cap of $306.22 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.79 and a beta of 0.61.

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

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.87%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KO shares. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. UBS Group upped their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Insider Buying and Selling at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the sale, the insider now owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 232,646 shares of company stock worth $16,515,469. Insiders own 0.97% of the company’s stock.

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.