The Coca-Cola Company (NYSE:KO) Stake Raised by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its holdings in shares of The Coca-Cola Company (NYSE:KO) by 0.5% during the 4th quarter, HoldingsChannel reports. The fund owned 1,719,907 shares of the company’s stock after purchasing an additional 9,015 shares during the period. Commonwealth Equity Services LLC’s holdings in Coca-Cola were worth $107,081,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC boosted its position in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Coca-Cola by 3.3% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 worth $4,617,400,000 after buying an additional 11,569,920 shares during the last quarter. Wellington Management Group LLP raised its position in Coca-Cola by 14.5% during 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 acquiring an additional 4,013,996 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock valued at $1,990,407,000 after acquiring an additional 1,609,565 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO opened at $69.59 on Friday. The company’s fifty day moving average is $66.03 and its two-hundred day moving average is $66.63. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a market capitalization of $299.29 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.51 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insiders Place Their Bets

In related news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the topic of several analyst reports. 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 note on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. UBS Group boosted their price target on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler raised their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

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.