D.B. Root & Company LLC Acquires 1,411 Shares of The Coca-Cola Company (NYSE:KO)

D.B. Root & Company LLC increased its holdings in The Coca-Cola Company (NYSE:KO) by 3.7% in the 1st quarter, Holdings Channel reports. The fund owned 39,974 shares of the company’s stock after buying an additional 1,411 shares during the quarter. Coca-Cola accounts for about 0.8% of D.B. Root & Company LLC’s investment portfolio, making the stock its 23rd biggest position. D.B. Root & Company LLC’s holdings in Coca-Cola were worth $2,446,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of KO. ZRC Wealth Management LLC boosted its holdings in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the last quarter. Tidemark LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at about $26,000. Private Wealth Management Group LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at about $27,000. Criterion Capital Advisors LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at about $30,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Coca-Cola during the 4th quarter valued at about $31,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Performance

NYSE KO traded down $0.26 on Friday, reaching $63.65. 17,358,827 shares of the stock were exchanged, compared to its average volume of 11,241,235. The firm has a market capitalization of $274.20 billion, a PE ratio of 25.46, a PEG ratio of 3.60 and a beta of 0.59. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.36. The company’s 50-day simple moving average is $62.72 and its two-hundred day simple moving average is $60.78.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts expect that The Coca-Cola Company will post 2.82 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 77.60%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KO shares. Evercore ISI raised their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. UBS Group increased their price objective on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. StockNews.com cut shares of Coca-Cola from a “buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Barclays increased their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $68.83.

Insider Activity at Coca-Cola

In related news, EVP Nancy Quan sold 19,304 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total value of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 19,304 shares of Coca-Cola stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $63.44, for a total transaction of $1,224,645.76. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,168,055.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nikolaos Koumettis sold 80,891 shares of Coca-Cola stock in a transaction on Friday, June 14th. The stock was sold at an average price of $62.34, for a total transaction of $5,042,744.94. Following the transaction, the insider now directly owns 218,880 shares of the company’s stock, valued at $13,644,979.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 223,665 shares of company stock valued at $13,995,465. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Company Profile

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.