Horizon Investments LLC Buys 1,347 Shares of The Coca-Cola Company (NYSE:KO)

Horizon Investments LLC grew its stake in The Coca-Cola Company (NYSE:KO) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,008 shares of the company’s stock after purchasing an additional 1,347 shares during the period. Horizon Investments LLC’s holdings in Coca-Cola were worth $5,853,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Advisors Asset Management Inc. grew its stake in shares of Coca-Cola by 3.0% during the fourth quarter. Advisors Asset Management Inc. now owns 452,582 shares of the company’s stock valued at $28,178,000 after buying an additional 13,084 shares during the last quarter. Retirement Planning Co of New England Inc. increased its stake in Coca-Cola by 3.1% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 6,530 shares of the company’s stock worth $407,000 after purchasing an additional 199 shares during the period. Mystic Asset Management Inc. lifted its position in shares of Coca-Cola by 59.6% during the fourth quarter. Mystic Asset Management Inc. now owns 16,194 shares of the company’s stock worth $1,008,000 after purchasing an additional 6,045 shares during the last quarter. Leelyn Smith LLC boosted its stake in shares of Coca-Cola by 0.6% during the fourth quarter. Leelyn Smith LLC now owns 42,471 shares of the company’s stock valued at $2,644,000 after purchasing an additional 241 shares during the period. Finally, BlackDiamond Wealth Management LLC increased its stake in Coca-Cola by 12.8% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 4,445 shares of the company’s stock worth $277,000 after buying an additional 505 shares during the period. Institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. Morgan Stanley upped their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Price Performance

Shares of NYSE KO opened at $70.15 on Tuesday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The business’s 50 day moving average price is $66.37 and its 200 day moving average price is $66.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm has a market cap of $301.70 billion, a P/E ratio of 28.40, a P/E/G ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.91%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

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.