The Coca-Cola Company (NYSE:KO) Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,878 shares of the company’s stock after purchasing an additional 3,943 shares during the quarter. Sterling Capital Management LLC’s holdings in Coca-Cola were worth $10,016,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hobbs Wealth Management LLC bought a new position in Coca-Cola in the 4th quarter worth about $217,000. Heritage Trust Co acquired a new position in shares of Coca-Cola during the fourth quarter worth approximately $2,316,000. Jaffetilchin Investment Partners LLC grew its holdings in Coca-Cola by 0.7% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 42,029 shares of the company’s stock worth $2,617,000 after buying an additional 292 shares in the last quarter. Summit Financial Wealth Advisors LLC increased its position in Coca-Cola by 2.9% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 6,326 shares of the company’s stock valued at $401,000 after acquiring an additional 178 shares during the period. Finally, Argent Trust Co raised its stake in Coca-Cola by 1.2% during the 4th quarter. Argent Trust Co now owns 405,362 shares of the company’s stock valued at $25,238,000 after acquiring an additional 4,744 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

NYSE KO opened at $70.93 on Friday. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.95. The stock’s 50-day moving average price is $69.43 and its two-hundred day moving average price is $66.36. The company has a market cap of $305.23 billion, a PE ratio of 28.71, a PEG ratio of 3.79 and a beta of 0.45. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued 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, analysts predict that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction on 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. Over the last quarter, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

KO has been the topic of a number of research analyst reports. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Piper Sandler raised their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

About Coca-Cola

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.