The Coca-Cola Company (NYSE:KO) Shares Sold by CORDA Investment Management LLC.

CORDA Investment Management LLC. lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 446,513 shares of the company’s stock after selling 7,085 shares during the period. Coca-Cola accounts for approximately 2.2% of CORDA Investment Management LLC.’s portfolio, making the stock its 21st biggest position. CORDA Investment Management LLC.’s holdings in Coca-Cola were worth $27,800,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Howard Capital Management Group LLC raised its position in Coca-Cola by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after purchasing an additional 2,069 shares during the period. Mutual Advisors LLC increased its position in shares of Coca-Cola by 12.4% during the 3rd quarter. Mutual Advisors LLC now owns 74,349 shares of the company’s stock worth $5,004,000 after purchasing an additional 8,211 shares during the last quarter. Diversify Wealth Management LLC raised its holdings in Coca-Cola by 11.0% in the 3rd quarter. Diversify Wealth Management LLC now owns 27,188 shares of the company’s stock valued at $1,849,000 after buying an additional 2,689 shares during the period. JFS Wealth Advisors LLC lifted its position in Coca-Cola by 12.6% in the third quarter. JFS Wealth Advisors LLC now owns 27,559 shares of the company’s stock valued at $1,980,000 after buying an additional 3,073 shares during the last quarter. Finally, Boyd Wealth Management LLC purchased a new position in Coca-Cola during the third quarter worth about $201,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KO shares. Wells Fargo & Company boosted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays boosted their price objective on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Piper Sandler decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.82.

Coca-Cola Stock Performance

NYSE:KO opened at $70.93 on Friday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month 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 $305.06 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The business’s fifty day moving average price is $64.36 and its 200 day moving average price is $66.50.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. On average, sell-side 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 issued a $0.51 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Insiders Place Their Bets

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction 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 directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 232,646 shares of company stock valued at $16,515,469 over the last quarter. Company insiders own 0.97% of the company’s stock.

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.