Tiller Private Wealth Inc. Acquires New Stake in The Coca-Cola Company (NYSE:KO)

Tiller Private Wealth Inc. purchased a new position in The Coca-Cola Company (NYSE:KO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,494 shares of the company’s stock, valued at approximately $206,000.

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

Coca-Cola Stock Up 0.7 %

Shares of Coca-Cola stock traded up $0.40 during trading on Thursday, hitting $58.91. 11,107,939 shares of the stock traded hands, compared to its average volume of 13,742,084. The stock has a market cap of $253.97 billion, a P/E ratio of 23.74, a PEG ratio of 3.29 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.99. The company has a fifty day moving average price of $59.94 and a two-hundred day moving average price of $58.52.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $10.80 billion during 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. Equities research analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.29%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. Coca-Cola’s payout ratio is currently 78.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays lifted their price objective on Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Citigroup lifted their target price on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. lifted 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $67.18.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total value of $15,063,636.72. Following the transaction, the chief executive officer now directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 247,188 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 375,407 shares of company stock valued at $22,795,742. 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.