Patton Fund Management Inc. Invests $205,000 in The Coca-Cola Company (NYSE:KO)

Patton Fund Management Inc. bought a new position in shares of The Coca-Cola Company (NYSE:KO – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,226 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds also recently modified their holdings of the company. My Personal CFO LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at approximately $25,000. Exos TFP Holdings LLC acquired a new position in shares of Coca-Cola in the 3rd quarter valued at approximately $27,000. Worth Asset Management LLC raised its position in shares of Coca-Cola by 956.1% in the 4th quarter. Worth Asset Management LLC now owns 433 shares of the company’s stock valued at $28,000 after buying an additional 392 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Coca-Cola during the 3rd quarter valued at approximately $31,000. Finally, VitalStone Financial LLC bought a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.74% of the company’s stock.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Henrique Braun sold 16,950 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $64.03, for a total transaction of $1,085,308.50. Following the completion of the transaction, the insider now owns 26,272 shares in the company, valued at $1,682,196.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James Quincey sold 46,421 shares of the stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $60.50, for a total value of $2,808,470.50. Following the sale, the chief executive officer now directly owns 592,546 shares of the company’s stock, valued at $35,849,033. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Henrique Braun sold 16,950 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $64.03, for a total transaction of $1,085,308.50. Following the completion of the sale, the insider now directly owns 26,272 shares in the company, valued at $1,682,196.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 540,473 shares of company stock worth $33,992,699. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

KO has been the topic of several research reports. Morgan Stanley lifted their price target on shares of Coca-Cola from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. Wells Fargo & Company reduced their price objective on shares of Coca-Cola from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 15th. The Goldman Sachs Group upped their price objective on shares of Coca-Cola from $61.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, February 13th. Evercore ISI upped their price objective on shares of Coca-Cola from $68.00 to $70.00 in a research note on Tuesday, April 25th. Finally, UBS Group upped their price objective on shares of Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, February 13th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.80.

Coca-Cola Stock Performance

NYSE KO opened at $61.40 on Wednesday. The Coca-Cola Company has a 1 year low of $54.01 and a 1 year high of $65.47. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.15 and a quick ratio of 0.95. The firm has a market cap of $265.53 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 3.49 and a beta of 0.54. The company has a fifty day moving average price of $62.67 and a 200-day moving average price of $61.87.

Coca-Cola (NYSE:KO – Get Rating) last posted its earnings results on Monday, April 24th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. The firm had revenue of $11 billion during the quarter, compared to analyst estimates of $10.78 billion. Coca-Cola had a net margin of 22.69% and a return on equity of 42.96%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. As a group, equities research analysts predict that The Coca-Cola Company will post 2.61 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 16th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $1.84 annualized dividend and a yield of 3.00%. Coca-Cola’s payout ratio is currently 80.70%.

Coca-Cola Company Profile

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The Coca-Cola Co engages in the manufacturing and marketing of non-alcoholic beverages. It operates through the following segments: Europe, Middle East and Africa, Latin America, North America, Asia Pacific, Global Ventures, and Bottling Investments. The company was founded by Asa Griggs Candler on May 8, 1886 and is headquartered in Atlanta, GA.