Kelly Financial Group LLC Makes New $332,000 Investment in The Coca-Cola Company (NYSE:KO)

Kelly Financial Group LLC purchased a new stake in The Coca-Cola Company (NYSE:KO) in the fourth quarter, Holdings Channel.com reports. The fund purchased 5,340 shares of the company’s stock, valued at approximately $332,000.

A number of other large investors have also made changes to their positions in the stock. Harvest Portfolios Group Inc. acquired a new position in Coca-Cola during the third quarter worth about $18,383,000. Balentine LLC boosted its stake in shares of Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after acquiring an additional 13,685 shares in the last quarter. Rice Partnership LLC grew its holdings in shares of Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after acquiring an additional 6,793 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock valued at $8,351,000 after purchasing an additional 59,503 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its position in Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,646 shares of company stock worth $16,515,469. 0.97% of the stock is owned by insiders.

Coca-Cola Stock Up 0.5 %

KO opened at $71.20 on Monday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The business has a 50-day moving average of $64.53 and a two-hundred day moving average of $66.50. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The stock has a market capitalization of $306.22 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.51 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KO. Deutsche Bank Aktiengesellschaft upgraded 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 research report on Thursday, December 12th. Morgan Stanley increased their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Piper Sandler lifted their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Company Profile

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.