Truvestments Capital LLC Has $2.94 Million Stake in The Coca-Cola Company (NYSE:KO)

Truvestments Capital LLC raised its position in shares of The Coca-Cola Company (NYSE:KO) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,144 shares of the company’s stock after acquiring an additional 3,436 shares during the period. Truvestments Capital LLC’s holdings in Coca-Cola were worth $2,935,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Coca-Cola by 13.7% in the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after buying an additional 11,206,995 shares during the period. Geode Capital Management LLC lifted its stake in shares of Coca-Cola by 3.3% in the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Coca-Cola by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after buying an additional 11,569,920 shares during the period. Wellington Management Group LLP lifted its stake in shares of Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after buying an additional 4,013,996 shares during the period. Finally, Franklin Resources Inc. raised its position in Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after purchasing an additional 1,609,565 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent research reports. Evercore ISI increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. Piper Sandler increased their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Insider Buying and Selling at Coca-Cola

In related news, insider Nikolaos Koumettis sold 55,500 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the sale, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,533,008.09. The trade was a 18.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This 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 have sold 288,146 shares of company stock valued at $20,456,524. 0.97% of the stock is currently owned by insiders.

Coca-Cola Price Performance

Shares of KO stock opened at $71.00 on Wednesday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The stock has a market cap of $305.37 billion, a PE ratio of 28.74, a PEG ratio of 3.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm’s 50 day moving average price is $65.72 and its two-hundred day moving average price is $66.58.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Coca-Cola Company 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.