The Coca-Cola Company (NYSE:KO) Holdings Lifted by Safe Harbor Fiduciary LLC

Safe Harbor Fiduciary LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 2.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,331 shares of the company’s stock after acquiring an additional 172 shares during the quarter. Safe Harbor Fiduciary LLC’s holdings in Coca-Cola were worth $456,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Crowley Wealth Management Inc. acquired a new stake in shares of Coca-Cola during the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola during the 4th quarter worth about $31,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $37,000. Murphy & Mullick Capital Management Corp acquired a new stake in Coca-Cola during the 4th quarter worth approximately $38,000. Finally, Hoey Investments Inc. boosted its holdings in Coca-Cola by 41.9% in the 4th 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 period. Institutional investors own 70.26% of the company’s stock.

Insider Activity

In related news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the business’s 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 sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. This represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 462,407 shares of company stock worth $32,990,056 over the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Trading Up 0.6%

Shares of NYSE:KO opened at $72.01 on Friday. The firm has a market capitalization of $309.93 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 3.79 and a beta of 0.47. The business’s 50 day moving average price is $70.88 and its 200-day moving average price is $66.76. The Coca-Cola Company has a 1 year low of $60.62 and a 1 year high of $74.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period last year, the company earned $0.72 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

Analyst Ratings Changes

Several analysts recently weighed in on KO shares. JPMorgan Chase & Co. raised their price objective on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Evercore ISI upped their target price on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. UBS Group upped their price target on Coca-Cola from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, April 30th. Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, Piper Sandler lifted their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $75.59.

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.