Morey & Quinn Wealth Partners LLC Makes New Investment in The Coca-Cola Company (NYSE:KO)

Morey & Quinn Wealth Partners LLC acquired a new stake in The Coca-Cola Company (NYSE:KO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,090 shares of the company's stock, valued at approximately $255,000.

Other hedge funds also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new position in Coca-Cola in the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola during the fourth quarter valued at about $31,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $38,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola in the 4th quarter worth approximately $37,000. Finally, MilWealth Group LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at $40,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. Royal Bank of Canada reissued an "outperform" rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Morgan Stanley boosted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $74.24.

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Coca-Cola Stock Down 0.5 %

Shares of NYSE KO traded down $0.38 during midday trading on Friday, hitting $70.36. The company's stock had a trading volume of 17,408,790 shares, compared to its average volume of 14,889,152. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a market capitalization of $302.80 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The business's fifty day simple moving average is $67.77 and its two-hundred day simple moving average is $66.45. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 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 analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase 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 2.90%. Coca-Cola's dividend payout ratio is currently 82.59%.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares of the company's stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruno Pietracci sold 19,058 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. In the last three months, insiders sold 313,423 shares of company stock valued at $22,263,071. Insiders own 0.97% of the company's stock.

About Coca-Cola

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.