Oxford Financial Group LTD. LLC Sells 392 Shares of The Coca-Cola Company (NYSE:KO)

Oxford Financial Group LTD. LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,046 shares of the company’s stock after selling 392 shares during the period. Oxford Financial Group LTD. LLC’s holdings in Coca-Cola were worth $875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KO. Charles Schwab Investment Management Inc. increased its position in shares of Coca-Cola by 18.5% during 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. FMR LLC increased its position in shares of 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 buying an additional 11,206,995 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Coca-Cola during the fourth quarter valued at about $500,192,000. Wellington Management Group LLP increased its position in shares of 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 buying an additional 4,013,996 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Coca-Cola by 3.3% during 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. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Performance

NYSE:KO opened at $69.63 on Friday. The firm has a market cap of $299.47 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. 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 business has a 50 day moving average price of $66.85 and a 200-day moving average price of $66.55.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. 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%.

Analyst Ratings Changes

Several brokerages have recently weighed in on KO. DZ Bank upgraded 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. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. UBS Group boosted their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price objective on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $74.24.

Insider Activity at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This represents a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock worth $22,263,071 over the last quarter. 0.97% of the stock is owned by corporate insiders.

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.