Tyche Wealth Partners LLC Acquires New Stake in The Coca-Cola Company (NYSE:KO)

Tyche Wealth Partners LLC bought a new position in The Coca-Cola Company (NYSE:KO) in the fourth quarter, Holdings Channel reports. The institutional investor bought 49,056 shares of the company’s stock, valued at approximately $2,891,000.

A number of other hedge funds have also modified their holdings of KO. Moneta Group Investment Advisors LLC raised its position in Coca-Cola by 103,297.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock valued at $3,672,479,000 after purchasing an additional 57,678,466 shares in the last quarter. Norges Bank acquired a new stake in Coca-Cola in the 4th quarter valued at about $2,937,315,000. Morgan Stanley raised its position in Coca-Cola by 15.7% in the 4th quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock valued at $5,031,669,000 after purchasing an additional 10,722,435 shares in the last quarter. Barclays PLC raised its position in Coca-Cola by 164.7% in the 2nd quarter. Barclays PLC now owns 14,430,093 shares of the company’s stock valued at $868,981,000 after purchasing an additional 8,979,379 shares in the last quarter. Finally, Capital World Investors raised its position in Coca-Cola by 61.4% in the 1st quarter. Capital World Investors now owns 10,764,084 shares of the company’s stock valued at $667,373,000 after purchasing an additional 4,095,881 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

KO traded down $0.08 during trading on Tuesday, hitting $58.06. 11,231,515 shares of the stock were exchanged, compared to its average volume of 13,817,294. The firm has a market capitalization of $250.31 billion, a P/E ratio of 23.45, a PEG ratio of 3.31 and a beta of 0.59. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.99. The stock has a fifty day moving average price of $60.01 and a two-hundred day moving average price of $58.51. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, sell-side analysts predict that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.485 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.94 annualized dividend and a yield of 3.34%. Coca-Cola’s payout ratio is 78.23%.

Insiders Place Their Bets

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at approximately $13,594,097.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total value of $1,102,114.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The disclosure for this sale can be found here. Insiders have sold a total of 375,407 shares of company stock valued at $22,795,742 over the last quarter. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the topic of a number of analyst reports. Citigroup increased their price target on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Barclays raised their target price on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their target price on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $67.18.

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.