The Coca-Cola Company (NYSE:KO) Shares Sold by Kellett Wealth Advisors LLC

Kellett Wealth Advisors LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 21.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,351 shares of the company’s stock after selling 1,159 shares during the period. Kellett Wealth Advisors LLC’s holdings in Coca-Cola were worth $271,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of KO. Hara Capital LLC bought a new position in shares of Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola in the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola during the 4th quarter worth about $37,000. MilWealth Group LLC acquired a new position in shares of Coca-Cola during the fourth quarter valued at about $40,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola in the third quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

KO has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. Evercore ISI raised their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler lowered their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average price target of $73.82.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.54 on Wednesday. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The stock has a market cap of $308.16 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. 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 stock has a fifty day moving average of $64.03 and a 200-day moving average of $66.44.

Coca-Cola (NYSE:KO) last announced its 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%. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is presently 78.54%.

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.