The Coca-Cola Company (NYSE:KO) Position Cut by Edge Capital Group LLC

Edge Capital Group LLC lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 99.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 424 shares of the company’s stock after selling 419,379 shares during the period. Edge Capital Group LLC’s holdings in Coca-Cola were worth $26,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in KO. Howard Capital Management Group LLC grew its position in Coca-Cola by 0.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after buying an additional 2,069 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its stake in shares of Coca-Cola by 14.3% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 13,613 shares of the company’s stock worth $978,000 after acquiring an additional 1,698 shares during the period. GHP Investment Advisors Inc. boosted its holdings in shares of Coca-Cola by 12.0% in the third quarter. GHP Investment Advisors Inc. now owns 11,499 shares of the company’s stock valued at $826,000 after acquiring an additional 1,229 shares in the last quarter. Bristlecone Advisors LLC acquired a new position in shares of Coca-Cola during the third quarter valued at approximately $224,000. Finally, Custom Index Systems LLC acquired a new position in shares of Coca-Cola during the third quarter valued at approximately $204,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO opened at $70.58 on Tuesday. The firm has a market capitalization of $304.04 billion, a P/E ratio of 28.57, a PEG ratio of 3.79 and a beta of 0.61. The stock has a fifty day moving average of $63.87 and a 200-day moving average of $66.42. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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 return on equity of 45.37% and a net margin of 22.59%. Equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. Coca-Cola’s payout ratio is presently 78.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. UBS Group lifted their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Piper Sandler cut their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.82.

Coca-Cola Company 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.