The Coca-Cola Company (NYSE:KO) Position Lowered by HS Management Partners LLC

HS Management Partners LLC cut its position in The Coca-Cola Company (NYSE:KO) by 7.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,212,365 shares of the company’s stock after selling 94,184 shares during the quarter. Coca-Cola accounts for 5.2% of HS Management Partners LLC’s holdings, making the stock its 6th biggest position. HS Management Partners LLC’s holdings in Coca-Cola were worth $75,482,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KO. Howard Capital Management Group LLC grew its position in shares of 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 during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Coca-Cola in the 3rd quarter valued at $194,000. Cary Street Partners Asset Management LLC grew its position in shares of Coca-Cola by 4.7% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,921 shares of the company’s stock valued at $569,000 after buying an additional 355 shares during the last quarter. United Advisor Group LLC grew its position in shares of Coca-Cola by 35.8% in the 3rd quarter. United Advisor Group LLC now owns 9,649 shares of the company’s stock valued at $693,000 after buying an additional 2,544 shares during the last quarter. Finally, Balentine LLC grew its position in shares of Coca-Cola by 92.4% in the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 0.0 %

KO stock opened at $70.17 on Thursday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The stock has a market capitalization of $301.78 billion, a PE ratio of 28.41, 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 company has a fifty day moving average of $65.02 and a 200-day moving average of $66.55.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 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%. As a group, analysts expect that The Coca-Cola Company will post 2.96 EPS for the current 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 paid a $0.51 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction 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 $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,646 shares of company stock worth $16,515,469 over the last 90 days. Company insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

KO has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Finally, Piper Sandler increased their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Two research 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, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average 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.