44 Wealth Management LLC Has $2.85 Million Stake in The Coca-Cola Company (NYSE:KO)

44 Wealth Management LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 45,791 shares of the company’s stock after selling 1,380 shares during the period. Coca-Cola accounts for about 1.1% of 44 Wealth Management LLC’s portfolio, making the stock its 17th biggest position. 44 Wealth Management LLC’s holdings in Coca-Cola were worth $2,851,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Hara Capital LLC acquired a new position in Coca-Cola during the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola during the third quarter valued at approximately $36,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the fourth quarter valued at approximately $37,000. MilWealth Group LLC acquired a new position in Coca-Cola during the fourth quarter valued at approximately $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KO. Morgan Stanley lifted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. cut their price target 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, TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Two research 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. Based on 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 $71.37 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm’s fifty day moving average price is $63.71 and its two-hundred day moving average price is $66.44. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.53. The firm has a market capitalization of $307.46 billion, a P/E ratio of 28.90, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 2.86%. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is currently 78.54%.

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.