Royal Fund Management LLC Buys 18,383 Shares of The Coca-Cola Company (NYSE:KO)

Royal Fund Management LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 140.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,510 shares of the company’s stock after purchasing an additional 18,383 shares during the quarter. Royal Fund Management LLC’s holdings in Coca-Cola were worth $1,857,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KO. Enterprise Bank & Trust Co lifted its stake in shares of Coca-Cola by 3.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock valued at $296,000 after acquiring an additional 167 shares during the last quarter. Elk River Wealth Management LLC lifted its stake in shares of Coca-Cola by 1.6% in the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock valued at $639,000 after acquiring an additional 170 shares during the last quarter. KRS Capital Management LLC lifted its stake in shares of Coca-Cola by 3.8% in the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after acquiring an additional 170 shares during the last quarter. Wayfinding Financial LLC lifted its stake in shares of Coca-Cola by 1.8% in the 4th quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock valued at $573,000 after acquiring an additional 175 shares during the last quarter. Finally, John G Ullman & Associates Inc. lifted its stake in shares of Coca-Cola by 2.2% in the 4th quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock valued at $476,000 after acquiring an additional 175 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

KO stock traded up $0.18 during trading on Friday, reaching $62.17. The company’s stock had a trading volume of 11,628,675 shares, compared to its average volume of 13,782,690. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.25. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $268.03 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 3.55 and a beta of 0.57. The company’s fifty day moving average is $60.24 and its 200-day moving average is $59.12.

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

Coca-Cola Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.12%. Coca-Cola’s payout ratio is 77.60%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KO. JPMorgan Chase & Co. boosted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday. 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 research report on Wednesday. Barclays lifted their price target on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup boosted their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, UBS Group increased their price target on shares of Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.27.

Insider Activity

In related news, CEO James Quincey sold 247,188 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO James Quincey sold 247,188 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Insiders sold a total of 323,107 shares of company stock worth $19,657,742 over the last 90 days. Corporate 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.