The Coca-Cola Company (NYSE:KO) Stock Position Raised by Procyon Advisors LLC

Posted by on Mar 27th, 2023

Procyon Advisors LLC boosted its position in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 13.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,555 shares of the company’s stock after purchasing an additional 1,216 shares during the period. Procyon Advisors LLC’s holdings in Coca-Cola were worth $671,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of KO. Paragon Wealth Strategies LLC purchased a new stake in shares of Coca-Cola in the third quarter worth approximately $25,000. My Personal CFO LLC acquired a new stake in shares of Coca-Cola during the 4th quarter valued at about $25,000. Exos TFP Holdings LLC acquired a new position in Coca-Cola in the third quarter worth approximately $27,000. Worth Asset Management LLC lifted its stake in Coca-Cola by 956.1% in the fourth quarter. Worth Asset Management LLC now owns 433 shares of the company’s stock valued at $28,000 after acquiring an additional 392 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Coca-Cola during the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 68.74% of the company’s stock.

Coca-Cola Price Performance

NYSE:KO opened at $60.90 on Monday. The stock’s 50 day moving average price is $60.12 and its two-hundred day moving average price is $60.34. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $263.47 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 3.52 and a beta of 0.53. The Coca-Cola Company has a 12-month low of $54.01 and a 12-month high of $67.20.

Coca-Cola (NYSE:KO – Get Rating) last announced its earnings results on Tuesday, February 14th. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $9.92 billion. Coca-Cola had a net margin of 22.19% and a return on equity of 42.35%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. On average, analysts anticipate that The Coca-Cola Company will post 2.6 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 17th will be issued a dividend of $0.46 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $1.84 annualized dividend and a dividend yield of 3.02%. Coca-Cola’s dividend payout ratio (DPR) is 83.64%.

Insider Transactions at Coca-Cola

In other news, SVP Nancy Quan sold 74,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $58.71, for a total transaction of $4,344,540.00. Following the completion of the transaction, the senior vice president now directly owns 219,790 shares in the company, valued at $12,903,870.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Nancy Quan sold 74,000 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $58.71, for a total transaction of $4,344,540.00. Following the transaction, the senior vice president now owns 219,790 shares of the company’s stock, valued at approximately $12,903,870.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 34,875 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $60.32, for a total value of $2,103,660.00. Following the completion of the transaction, the chief executive officer now owns 351,737 shares in the company, valued at $21,216,775.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 282,268 shares of company stock worth $17,137,823. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of a number of recent analyst reports. Citigroup started coverage on Coca-Cola in a research report on Thursday, February 16th. They set a “buy” rating and a $68.00 target price for the company. JPMorgan Chase & Co. set a $67.00 target price on Coca-Cola in a research note on Tuesday, February 14th. Deutsche Bank Aktiengesellschaft dropped their price target on Coca-Cola from $63.00 to $60.00 in a research report on Monday, March 20th. Credit Suisse Group set a $70.00 price objective on Coca-Cola in a research report on Wednesday, February 15th. Finally, Royal Bank of Canada set a $69.00 target price on shares of Coca-Cola in a research report on Tuesday, February 14th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $67.55.

Coca-Cola Profile

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The Coca-Cola Co engages in the manufacturing and marketing of non-alcoholic beverages. It operates through the following segments: Europe, Middle East and Africa, Latin America, North America, Asia Pacific, Global Ventures, and Bottling Investments. The company was founded by Asa Griggs Candler on May 8, 1886 and is headquartered in Atlanta, GA.

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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