Transce3nd LLC Makes New $590,000 Investment in The Coca-Cola Company (NYSE:KO)

by · The Cerbat Gem

Transce3nd LLC acquired a new stake in shares of The Coca-Cola Company (NYSE:KO – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 9,470 shares of the company’s stock, valued at approximately $590,000.

A number of other institutional investors have also recently made changes to their positions in KO. Crowley Wealth Management Inc. acquired a new position in Coca-Cola during the 4th quarter valued at approximately $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola during the fourth quarter valued at $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at $37,000. Murphy & Mullick Capital Management Corp purchased a new position in Coca-Cola in the 4th quarter worth $38,000. Finally, Hoey Investments Inc. lifted its position in Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock worth $38,000 after acquiring an additional 181 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.8 %

Shares of NYSE:KO opened at $72.99 on Friday. The business’s 50 day moving average price is $70.39 and its 200-day moving average price is $66.39. The Coca-Cola Company has a 1 year low of $59.72 and a 1 year high of $73.95. The firm has a market capitalization of $314.13 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO – Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.51 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.79%. Coca-Cola’s payout ratio is currently 82.59%.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. 0.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KO. Cfra Research raised Coca-Cola to a “strong-buy” rating in a report on Tuesday, April 15th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Finally, Morgan Stanley upped their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Buy” and a consensus price target of $74.59.

Get Our Latest Research Report on KO

Coca-Cola Profile

(Free Report)

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.

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