Waverton Investment Management Ltd Sells 16,405 Shares of The Coca-Cola Company (NYSE:KO)

Waverton Investment Management Ltd reduced its position in The Coca-Cola Company (NYSE:KO) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,587 shares of the company’s stock after selling 16,405 shares during the quarter. Waverton Investment Management Ltd’s holdings in Coca-Cola were worth $7,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler cut their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Barclays increased their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Up 1.9 %

NYSE KO opened at $71.37 on Monday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The firm has a market capitalization of $307.46 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 3.79 and a beta of 0.61. 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 company has a fifty day moving average of $63.71 and a two-hundred day moving average of $66.41.

Coca-Cola (NYSE:KO) last issued 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, analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. 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 dividend 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.