Neville Rodie & Shaw Inc. Increases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Neville Rodie & Shaw Inc. boosted its position in The Coca-Cola Company (NYSE:KO) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,035 shares of the company’s stock after purchasing an additional 6,760 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Coca-Cola were worth $3,738,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KO. Private Advisor Group LLC raised its stake in Coca-Cola by 7.9% in the 2nd quarter. Private Advisor Group LLC now owns 332,274 shares of the company’s stock valued at $21,149,000 after purchasing an additional 24,216 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in shares of Coca-Cola by 5.3% in the 2nd quarter. Lake Street Advisors Group LLC now owns 27,765 shares of the company’s stock worth $1,781,000 after acquiring an additional 1,404 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Coca-Cola in the 2nd quarter worth $68,000. Kerusso Capital Management LLC acquired a new stake in shares of Coca-Cola in the 2nd quarter worth $2,066,000. Finally, Financial Gravity Asset Management Inc. increased its stake in shares of Coca-Cola by 9.6% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 31,637 shares of the company’s stock worth $2,014,000 after acquiring an additional 2,780 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

KO has been the subject of a number of recent analyst reports. Barclays cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Truist Financial raised their target price on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company cut their target price on Coca-Cola from $78.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday, December 2nd. Finally, Morgan Stanley decreased their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $72.50.

Coca-Cola Trading Down 0.6 %

NYSE:KO traded down $0.40 on Monday, hitting $61.35. 6,597,546 shares of the stock were exchanged, compared to its average volume of 9,832,322. The stock has a market cap of $264.28 billion, a PE ratio of 25.35, a PEG ratio of 3.83 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a fifty day moving average of $63.37 and a 200-day moving average of $66.58. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. As a group, equities analysts expect that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

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.