Brookstone Capital Management Buys 29,605 Shares of The Coca-Cola Company (NYSE:KO)

Brookstone Capital Management raised its stake in The Coca-Cola Company (NYSE:KO) by 36.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,063 shares of the company’s stock after acquiring an additional 29,605 shares during the period. Brookstone Capital Management’s holdings in Coca-Cola were worth $6,915,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Harvest Portfolios Group Inc. acquired a new stake in shares of Coca-Cola during the 3rd quarter worth about $18,383,000. Balentine LLC increased its holdings in shares of Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Coca-Cola by 5.8% in the third quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock valued at $61,122,000 after acquiring an additional 46,541 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in Coca-Cola by 4.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock worth $32,895,000 after acquiring an additional 21,005 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $61.68 on Tuesday. The firm’s 50 day simple moving average is $62.84 and its 200 day simple moving average is $66.48. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The company has a market capitalization of $265.70 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.83 and a beta of 0.61. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period last year, the firm posted $0.74 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s dividend payout ratio is currently 80.17%.

Analyst Upgrades and Downgrades

KO has been the subject of several research analyst reports. Morgan Stanley cut their price objective on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Barclays decreased their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Piper Sandler started coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.60.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.97% of the stock is currently owned by company insiders.

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.