The Coca-Cola Company (NYSE:KO) Shares Bought by X Square Capital LLC

X Square Capital LLC lifted its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,112 shares of the company’s stock after acquiring an additional 413 shares during the period. X Square Capital LLC’s holdings in Coca-Cola were worth $1,937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola in the fourth quarter valued at $27,000. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the fourth quarter valued at about $31,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola during the fourth quarter worth about $37,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola during the fourth quarter valued at about $38,000. Finally, MilWealth Group LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of 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. decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Finally, DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.24.

Insider Buying and Selling

In related news, insider Bruno Pietracci sold 19,058 shares of the company’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 value of $1,344,732.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the sale, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock valued at $22,263,071 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $70.80 on Friday. 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 Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The firm has a 50-day simple moving average of $67.62 and a 200-day simple moving average of $66.46. The company has a market capitalization of $304.70 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) 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%. On average, equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. 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 payout ratio is 82.59%.

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.