Fi3 FINANCIAL ADVISORS LLC Sells 1,011 Shares of The Coca-Cola Company (NYSE:KO)

Fi3 FINANCIAL ADVISORS LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,985 shares of the company’s stock after selling 1,011 shares during the quarter. Fi3 FINANCIAL ADVISORS LLC’s holdings in Coca-Cola were worth $248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in Coca-Cola in the fourth quarter worth $2,118,000. Sciencast Management LP lifted its position in Coca-Cola by 22.7% in the fourth quarter. Sciencast Management LP now owns 44,719 shares of the company’s stock worth $2,784,000 after purchasing an additional 8,280 shares during the period. ZEGA Investments LLC bought a new position in Coca-Cola in the fourth quarter worth $1,059,000. Millstone Evans Group LLC bought a new position in Coca-Cola in the fourth quarter worth $81,000. Finally, Washington Trust Bank bought a new position in Coca-Cola in the fourth quarter worth $272,000. 70.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction dated 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 directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. The trade was a 32.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. 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 three months. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Price Performance

Shares of KO stock opened at $68.58 on Friday. The stock has a 50-day moving average price of $67.00 and a 200 day moving average price of $66.52. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm has a market cap of $295.12 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping 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%. Research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently disclosed 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 represents a $2.04 dividend on an annualized basis and a yield of 2.97%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KO. Piper Sandler lifted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Barclays lifted 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. Morgan Stanley lifted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Two research 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 MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $74.24.

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.