The Coca-Cola Company (NYSE:KO) Shares Acquired by Carrera Capital Advisors

Carrera Capital Advisors boosted its stake in The Coca-Cola Company (NYSE:KO) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,759 shares of the company’s stock after purchasing an additional 5,337 shares during the period. Coca-Cola makes up about 0.7% of Carrera Capital Advisors’ investment portfolio, making the stock its 28th biggest holding. Carrera Capital Advisors’ holdings in Coca-Cola were worth $2,973,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in KO. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola in the fourth quarter valued at $31,000. Hara Capital LLC acquired a new position in Coca-Cola in the 3rd quarter worth $35,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola in the 4th quarter valued at about $37,000. MilWealth Group LLC acquired a new stake in shares of Coca-Cola during the fourth quarter valued at about $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the third quarter worth about $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 232,646 shares of company stock worth $16,515,469. Company insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler increased their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. UBS Group raised their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Two investment 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Price Performance

Shares of NYSE KO opened at $70.08 on Wednesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a market capitalization of $301.40 billion, a PE ratio of 28.37, a P/E/G ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The business’s fifty day moving average price is $64.87 and its two-hundred day moving average price is $66.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. Coca-Cola’s payout ratio is currently 82.59%.

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.