Burns J W & Co. Inc. NY Has $3.70 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Burns J W & Co. Inc. NY reduced its stake in The Coca-Cola Company (NYSE:KO) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,340 shares of the company’s stock after selling 1,654 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Coca-Cola were worth $3,695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KO. Quarry LP purchased a new stake in shares of Coca-Cola during the second quarter worth $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola during the 3rd quarter valued at $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola in the third quarter worth $36,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola during the third quarter valued at about $43,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Coca-Cola during the third quarter valued at about $58,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.0 %

Shares of KO stock traded up $0.61 on Monday, hitting $61.68. The stock had a trading volume of 16,907,540 shares, compared to its average volume of 16,118,882. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The business has a 50 day moving average price of $62.91 and a 200 day moving average price of $66.50. The company has a market cap of $265.70 billion, a PE ratio of 25.49, a P/E/G ratio of 3.83 and a beta of 0.61.

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

Coca-Cola Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KO shares. Wells Fargo & Company lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Barclays cut their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Piper Sandler began coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price objective for the company. Finally, Hsbc Global Res upgraded Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.60.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.97% of the company’s stock.

Coca-Cola 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.