Riverbend Wealth Management LLC Makes New $351,000 Investment in The Coca-Cola Company (NYSE:KO)

Riverbend Wealth Management LLC bought a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,620 shares of the company's stock, valued at approximately $351,000.

Several other hedge funds have also added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in Coca-Cola during the fourth quarter worth about $31,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola during the third quarter worth about $43,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the fourth quarter worth about $37,000. MilWealth Group LLC bought a new position in Coca-Cola during the fourth quarter worth about $40,000. Finally, Hara Capital LLC boosted its holdings in Coca-Cola by 43.7% during the fourth quarter. Hara Capital LLC now owns 691 shares of the company's stock worth $43,000 after buying an additional 210 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Coca-Cola Stock Down 0.6 %

KO stock traded down $0.45 during mid-day trading on Tuesday, reaching $71.00. The company had a trading volume of 28,069,766 shares, compared to its average volume of 14,037,215. 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 Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a 50 day simple moving average of $65.72 and a two-hundred day simple moving average of $66.58. The company has a market capitalization of $305.37 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 3.79 and a beta of 0.57.

Remove Ads

Coca-Cola (NYSE:KO - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, equities analysts predict 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 will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.87%. Coca-Cola's payout ratio is 82.59%.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction 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 completion of the transaction, the insider now directly owns 246,909 shares of the company's stock, valued at $17,520,662.64. The trade was a 18.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders sold 288,146 shares of company stock worth $20,456,524 in the last ninety days. 0.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KO. Jefferies Financial Group raised Coca-Cola from a "hold" rating to a "buy" rating and raised their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. TD Cowen raised Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company raised their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $74.24.

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.