Tennessee Valley Asset Management Partners Has $476,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Tennessee Valley Asset Management Partners boosted its stake in The Coca-Cola Company (NYSE:KO) by 12.3% during the first quarter, Holdings Channel reports. The institutional investor owned 6,644 shares of the company’s stock after buying an additional 730 shares during the period. Tennessee Valley Asset Management Partners’ holdings in Coca-Cola were worth $476,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after acquiring an additional 11,569,920 shares during the period. Norges Bank bought a new stake in shares of Coca-Cola during the 4th quarter worth approximately $3,402,151,000. Northern Trust Corp lifted its holdings in shares of Coca-Cola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock worth $2,727,131,000 after acquiring an additional 3,811,756 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Coca-Cola by 21.9% during the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock worth $2,123,301,000 after acquiring an additional 6,118,819 shares during the period. Finally, Capital International Investors lifted its holdings in shares of Coca-Cola by 96.0% during the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analysts Set New Price Targets

KO has been the subject of several research reports. Piper Sandler increased their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Royal Bank of Canada increased their price objective on shares of Coca-Cola from $73.00 to $76.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Barclays reissued an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Finally, Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola has a consensus rating of “Buy” and an average price target of $76.00.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 266,403 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $72.06, for a total value of $19,197,000.18. Following the completion of the sale, the chief executive officer now directly owns 275,946 shares in the company, valued at approximately $19,884,668.76. This trade represents a 49.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John Murphy sold 88,658 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $72.09, for a total transaction of $6,391,355.22. Following the completion of the transaction, the chief financial officer now directly owns 205,511 shares in the company, valued at $14,815,287.99. This trade represents a 30.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 415,387 shares of company stock worth $29,923,985. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Down 0.7%

KO opened at $70.51 on Tuesday. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. 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 company has a fifty day moving average of $71.60 and a 200-day moving average of $67.94. The stock has a market cap of $303.50 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 3.79 and a beta of 0.46.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The company had revenue of $11.13 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the prior year, the company posted $0.72 earnings per share. Coca-Cola’s revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, June 13th. Coca-Cola’s payout ratio is 81.60%.

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.