United Capital Financial Advisors LLC Sells 3,177 Shares of The Coca-Cola Company (NYSE:KO)

United Capital Financial Advisors LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,547 shares of the company’s stock after selling 3,177 shares during the period. United Capital Financial Advisors LLC’s holdings in Coca-Cola were worth $9,186,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jump Financial LLC grew its position in Coca-Cola by 993.3% in the 4th quarter. Jump Financial LLC now owns 259,772 shares of the company’s stock worth $16,173,000 after purchasing an additional 236,012 shares in the last quarter. Anchor Investment Management LLC boosted its stake in shares of Coca-Cola by 2.2% in the 4th quarter. Anchor Investment Management LLC now owns 121,720 shares of the company’s stock worth $7,578,000 after buying an additional 2,573 shares during the last quarter. CacheTech Inc. grew its holdings in shares of Coca-Cola by 25.2% in the fourth quarter. CacheTech Inc. now owns 12,072 shares of the company’s stock valued at $751,000 after acquiring an additional 2,429 shares in the last quarter. Rossby Financial LCC purchased a new stake in shares of Coca-Cola during the fourth quarter valued at approximately $418,000. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new stake in Coca-Cola during the fourth quarter worth $8,382,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Trading Down 0.8 %

Shares of Coca-Cola stock opened at $71.89 on Wednesday. The company’s 50-day moving average price is $69.96 and its 200-day moving average price is $66.36. The company has a market cap of $309.37 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 3.79 and a beta of 0.45. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.95. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating 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%. On average, equities analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, March 14th. Coca-Cola’s dividend payout ratio is 82.59%.

Insiders Place Their Bets

In other news, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This represents a 12.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Piper Sandler lifted their price objective 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. Evercore ISI increased their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report 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 report on Thursday, February 6th. Finally, Barclays reissued an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

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.