Syon Capital LLC Increases Holdings in The Coca-Cola Company (NYSE:KO)

Syon Capital LLC increased its stake in shares of The Coca-Cola Company (NYSE:KO) by 98.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 36,180 shares of the company’s stock after acquiring an additional 17,931 shares during the quarter. Syon Capital LLC’s holdings in Coca-Cola were worth $2,132,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in KO. ZRC Wealth Management LLC raised its position in Coca-Cola by 213.3% in the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Criterion Capital Advisors LLC purchased a new stake in Coca-Cola in the fourth quarter valued at $30,000. Financial Connections Group Inc. acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $38,000. Avion Wealth grew its stake in shares of Coca-Cola by 64.8% in the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock valued at $48,000 after buying an additional 322 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KO. Citigroup lifted their price objective on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. dropped their price objective on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Finally, Barclays lifted their price objective on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.22.

Coca-Cola Stock Performance

KO remained flat at $61.74 on Friday. The company had a trading volume of 10,986,641 shares, compared to its average volume of 13,996,104. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.69. The stock has a market capitalization of $266.17 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 3.52 and a beta of 0.59. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 1.29. The business has a fifty day moving average price of $60.07 and a 200-day moving average price of $58.76.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. Coca-Cola’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. Equities analysts expect that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a dividend of $0.485 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s dividend payout ratio is currently 78.23%.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.00, for a total value of $3,138,000.00. Following the completion of the sale, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at approximately $8,602,980. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. In the last ninety days, insiders sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Company 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.