Atwater Malick LLC Purchases 4,265 Shares of The Coca-Cola Company (NYSE:KO)

Posted by Defense World Staff on Jun 14th, 2023

Atwater Malick LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO – Get Rating) by 3.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,061 shares of the company’s stock after acquiring an additional 4,265 shares during the quarter. Coca-Cola makes up approximately 3.9% of Atwater Malick LLC’s holdings, making the stock its 11th biggest position. Atwater Malick LLC’s holdings in Coca-Cola were worth $7,892,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Altus Wealth Group LLC acquired a new stake in Coca-Cola in the 4th quarter valued at $203,000. Foster Victor Wealth Advisors LLC increased its stake in Coca-Cola by 11.1% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 7,161 shares of the company’s stock valued at $454,000 after buying an additional 718 shares during the last quarter. Lyell Wealth Management LP increased its stake in Coca-Cola by 3.9% in the 4th quarter. Lyell Wealth Management LP now owns 7,265 shares of the company’s stock valued at $462,000 after buying an additional 275 shares during the last quarter. Silver Lake Advisory LLC increased its stake in Coca-Cola by 0.7% in the 4th quarter. Silver Lake Advisory LLC now owns 31,630 shares of the company’s stock valued at $2,012,000 after buying an additional 216 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of Coca-Cola by 3.2% in the 3rd quarter. Evergreen Capital Management LLC now owns 27,631 shares of the company’s stock valued at $1,560,000 after acquiring an additional 854 shares during the period. 68.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KO has been the subject of a number of analyst reports. Royal Bank of Canada set a $69.00 price objective on shares of Coca-Cola in a research report on Tuesday, February 14th. Credit Suisse Group set a $70.00 price objective on shares of Coca-Cola in a research report on Wednesday, February 15th. Citigroup lifted their price objective on shares of Coca-Cola from $71.00 to $74.00 in a research report on Monday, April 24th. Morgan Stanley lifted their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, February 15th. Finally, HSBC decreased their price objective on shares of Coca-Cola from $77.00 to $74.00 in a research report on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.67.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 253,102 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $63.63, for a total value of $16,104,880.26. Following the completion of the sale, the insider now owns 184,563 shares of the company’s stock, valued at approximately $11,743,743.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Henrique Braun sold 16,950 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $64.03, for a total value of $1,085,308.50. Following the completion of the transaction, the insider now directly owns 26,272 shares in the company, valued at approximately $1,682,196.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nikolaos Koumettis sold 253,102 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $63.63, for a total transaction of $16,104,880.26. Following the completion of the transaction, the insider now owns 184,563 shares of the company’s stock, valued at $11,743,743.69. The disclosure for this sale can be found here. Insiders sold 420,786 shares of company stock valued at $26,886,224 in the last quarter. Company insiders own 1.00% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $60.45 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.95 and a current ratio of 1.15. The company has a market capitalization of $261.42 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 3.42 and a beta of 0.55. The Coca-Cola Company has a 52 week low of $54.01 and a 52 week high of $65.47. The company has a 50-day simple moving average of $62.46 and a 200 day simple moving average of $61.79.

Coca-Cola (NYSE:KO – Get Rating) last posted its quarterly earnings data on Monday, April 24th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The firm had revenue of $11 billion during the quarter, compared to the consensus estimate of $10.78 billion. Coca-Cola had a net margin of 22.69% and a return on equity of 42.96%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, sell-side analysts predict that The Coca-Cola Company will post 2.61 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 16th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Thursday, June 15th. Coca-Cola’s dividend payout ratio is currently 80.70%.

Coca-Cola Company Profile

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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.