The Coca-Cola Company (NYSE:KO) Shares Acquired by Taurus Asset Management LLC

Taurus Asset Management LLC boosted its position in The Coca-Cola Company (NYSE:KO) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 383,585 shares of the company’s stock after acquiring an additional 2,955 shares during the quarter. Coca-Cola accounts for about 2.3% of Taurus Asset Management LLC’s holdings, making the stock its 15th biggest holding. Taurus Asset Management LLC’s holdings in Coca-Cola were worth $23,882,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola during the 4th quarter worth about $27,000. Mainstream Capital Management LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth about $31,000. Murphy & Mullick Capital Management Corp purchased a new stake in Coca-Cola during the fourth quarter worth approximately $38,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the fourth quarter valued at approximately $37,000. Finally, Hoey Investments Inc. increased its stake in Coca-Cola by 41.9% in the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $71.35 on Friday. The stock has a market capitalization of $307.04 billion, a P/E ratio of 28.89, a P/E/G ratio of 3.79 and a beta of 0.45. 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 1 year low of $57.93 and a 1 year high of $73.95. The company’s fifty day moving average is $69.60 and its two-hundred day moving average is $66.36.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.51 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Wall Street Analysts Forecast Growth

KO has been the subject of several recent analyst reports. Evercore ISI boosted their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 8th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Thursday, February 13th. Finally, Piper Sandler raised their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.24.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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 corporate insiders.

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.