LPL Financial LLC Acquires 191,712 Shares of The Coca-Cola Company (NYSE:KO)

LPL Financial LLC raised its holdings in The Coca-Cola Company (NYSE:KO) by 4.6% in the fourth quarter, Holdings Channel reports. The firm owned 4,340,579 shares of the company’s stock after purchasing an additional 191,712 shares during the period. LPL Financial LLC’s holdings in Coca-Cola were worth $270,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $37,000. MilWealth Group LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $40,000. Sugar Maple Asset Management LLC purchased a new position in shares of Coca-Cola during the 4th quarter valued at $43,000. Finally, Hara Capital LLC lifted its position in shares of Coca-Cola by 43.7% during the 4th quarter. Hara Capital LLC now owns 691 shares of the company’s stock valued at $43,000 after buying an additional 210 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KO shares. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Piper Sandler increased their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. UBS Group raised their price target on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Barclays raised their price target on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $68.58 on Monday. The business’s 50-day moving average price is $67.00 and its 200-day moving average price is $66.43. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The firm has a market capitalization of $295.12 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last posted its quarterly 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 return on equity of 45.37% and a net margin of 22.59%. Sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal 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 $0.51 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Insider Transactions at Coca-Cola

In other news, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value 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 approximately $24,324,191.46. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by insiders.

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.