Ellenbecker Investment Group Sells 239 Shares of The Coca-Cola Company (NYSE:KO)

Ellenbecker Investment Group lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,482 shares of the company’s stock after selling 239 shares during the quarter. Ellenbecker Investment Group’s holdings in Coca-Cola were worth $404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KO. Traveka Wealth LLC grew its holdings in shares of Coca-Cola by 959.9% during the 4th quarter. Traveka Wealth LLC now owns 57,105 shares of the company’s stock worth $3,555,000 after purchasing an additional 51,717 shares in the last quarter. Armstrong Henry H Associates Inc. grew its stake in Coca-Cola by 5.8% during the fourth quarter. Armstrong Henry H Associates Inc. now owns 142,264 shares of the company’s stock worth $8,857,000 after buying an additional 7,810 shares in the last quarter. BCS Wealth Management acquired a new stake in Coca-Cola during the fourth quarter worth about $629,000. PFW Advisors LLC bought a new position in Coca-Cola in the 4th quarter valued at about $29,003,000. Finally, Miracle Mile Advisors LLC raised its position in shares of Coca-Cola by 838.7% in the 4th quarter. Miracle Mile Advisors LLC now owns 90,519 shares of the company’s stock valued at $5,636,000 after buying an additional 80,876 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 1.0 %

Shares of KO opened at $61.68 on Tuesday. The stock’s 50-day moving average price is $62.84 and its two-hundred day moving average price is $66.48. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a market capitalization of $265.70 billion, a PE ratio of 25.49, a PEG ratio of 3.83 and a beta of 0.61. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company had revenue of $11.85 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on KO shares. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company lowered their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $72.60.

Coca-Cola 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.