TrueMark Investments LLC Acquires 5,624 Shares of The Coca-Cola Company (NYSE:KO)

TrueMark Investments LLC increased its holdings in The Coca-Cola Company (NYSE:KO) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,479 shares of the company’s stock after purchasing an additional 5,624 shares during the quarter. Coca-Cola accounts for 1.3% of TrueMark Investments LLC’s investment portfolio, making the stock its 29th biggest position. TrueMark Investments LLC’s holdings in Coca-Cola were worth $4,139,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Crowley Wealth Management Inc. purchased a new position in shares of Coca-Cola in the fourth quarter worth $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola in the 4th quarter worth $31,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola in the fourth quarter valued at about $37,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Coca-Cola during the fourth quarter valued at about $38,000. Finally, MilWealth Group LLC purchased a new stake in shares of Coca-Cola during the fourth quarter worth about $40,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KO. Barclays upped their price target on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, February 13th. Two 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 stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Stock Down 0.1 %

Shares of NYSE:KO opened at $68.85 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock has a fifty day simple moving average of $67.28 and a two-hundred day simple moving average of $66.40. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The stock has a market capitalization of $296.30 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last posted its quarterly 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 return on equity of 45.37% and a net margin of 22.59%. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is currently 82.59%.

Insider Activity

In other news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 over the last 90 days. 0.97% of the stock is currently owned by insiders.

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.