The Coca-Cola Company (NYSE:KO) Stock Holdings Lessened by Objective Capital Management LLC

Objective Capital Management LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 12.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,849 shares of the company’s stock after selling 703 shares during the period. Objective Capital Management LLC’s holdings in Coca-Cola were worth $302,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after purchasing an additional 11,569,920 shares during the last quarter. Norges Bank purchased a new stake in shares of Coca-Cola during the 4th quarter worth about $3,402,151,000. Northern Trust Corp lifted its holdings in shares of Coca-Cola by 9.5% during the 4th quarter. Northern Trust Corp now owns 43,802,296 shares of the company’s stock valued at $2,727,131,000 after buying an additional 3,811,756 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Coca-Cola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after buying an additional 6,118,819 shares in the last quarter. Finally, Capital International Investors increased its holdings in Coca-Cola by 96.0% in the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company’s stock worth $1,553,337,000 after buying an additional 12,222,885 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of several recent research reports. Cfra Research raised shares of Coca-Cola to a “strong-buy” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. upped their price objective on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Piper Sandler increased their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Finally, DZ Bank 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 Thursday, February 13th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $75.81.

Coca-Cola Stock Down 0.1%

NYSE KO opened at $71.73 on Wednesday. The Coca-Cola Company has a twelve month low of $60.62 and a twelve month high of $74.38. The stock has a market cap of $308.75 billion, a PE ratio of 29.04, a PEG ratio of 3.79 and a beta of 0.47. The firm has a 50-day simple moving average of $71.18 and a 200 day simple moving average of $67.11. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

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

Coca-Cola Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 2.84%. Coca-Cola’s dividend payout ratio is currently 81.60%.

Insiders Place Their Bets

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of Coca-Cola 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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nikolaos Koumettis sold 55,500 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $71.01, for a total value of $3,941,055.00. Following the sale, the insider now owns 246,909 shares in the company, valued at $17,533,008.09. The trade was a 18.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 229,761 shares of company stock worth $16,474,587 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.