Xponance Inc. Raises Stock Holdings in The Coca-Cola Company (NYSE:KO)

Xponance Inc. increased its position in The Coca-Cola Company (NYSE:KO) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 747,641 shares of the company’s stock after purchasing an additional 76,438 shares during the period. Coca-Cola accounts for 0.5% of Xponance Inc.’s portfolio, making the stock its 29th biggest position. Xponance Inc.’s holdings in Coca-Cola were worth $44,058,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hibernia Wealth Partners LLC purchased a new position in Coca-Cola in the 3rd quarter worth about $25,000. Freedom Wealth Alliance LLC purchased a new position in Coca-Cola in the 4th quarter worth about $25,000. ZRC Wealth Management LLC raised its position in Coca-Cola by 213.3% in the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock worth $26,000 after buying an additional 320 shares during the last quarter. Fortis Capital Advisors LLC purchased a new position in Coca-Cola in the 4th quarter worth about $30,000. Finally, KB Financial Partners LLC purchased a new position in Coca-Cola in the 1st quarter worth about $31,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Nancy Quan sold 57,368 shares of the company’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 of the company’s stock, valued at approximately $13,594,097.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO James Quincey sold 247,188 shares of the company’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 transaction of $15,063,636.72. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the stock in a transaction 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 sale, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 375,407 shares of company stock valued at $22,795,742. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on KO shares. JPMorgan Chase & Co. boosted 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. Citigroup boosted their price target on Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays boosted their price target on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $67.18.

Coca-Cola Stock Performance

Shares of NYSE:KO traded up $0.40 during mid-day trading on Thursday, reaching $58.91. 11,107,939 shares of the company traded hands, compared to its average volume of 13,742,084. The company’s 50 day moving average price is $59.94 and its 200-day moving average price is $58.52. The firm has a market cap of $253.97 billion, a PE 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 current ratio of 1.13 and a quick ratio of 0.95. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.99.

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

Coca-Cola Increases Dividend

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

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.