Rodgers Brothers Inc. Raises Holdings in The Coca-Cola Company (NYSE:KO)

Rodgers Brothers Inc. boosted its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.1% in the 4th quarter, Holdings Channel reports. The fund owned 117,740 shares of the company’s stock after buying an additional 152 shares during the period. Coca-Cola makes up 1.0% of Rodgers Brothers Inc.’s investment portfolio, making the stock its 28th largest position. Rodgers Brothers Inc.’s holdings in Coca-Cola were worth $7,331,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of KO. Summit Financial LLC grew its stake in shares of Coca-Cola by 11.4% during the 4th quarter. Summit Financial LLC now owns 97,757 shares of the company’s stock worth $6,086,000 after purchasing an additional 10,005 shares during the period. Hoey Investments Inc. grew its position in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after buying an additional 181 shares during the period. Bedell Frazier Investment Counselling LLC grew its position in Coca-Cola by 1.8% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 163,910 shares of the company’s stock valued at $10,205,000 after buying an additional 2,893 shares during the period. FSB Premier Wealth Management Inc. increased its holdings in Coca-Cola by 4.1% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 12,175 shares of the company’s stock valued at $758,000 after buying an additional 478 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Coca-Cola by 10.0% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 15,488 shares of the company’s stock worth $963,000 after acquiring an additional 1,414 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nikolaos Koumettis sold 55,500 shares of Coca-Cola stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the completion of the transaction, the insider now owns 246,909 shares of the company’s stock, valued at $17,533,008.09. The trade was a 18.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KO has been the subject of several recent analyst reports. Piper Sandler lifted their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Evercore ISI increased their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, UBS Group boosted their target price on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Two 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Stock Down 0.5 %

NYSE:KO opened at $70.36 on Monday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock’s fifty day moving average is $67.77 and its two-hundred day moving average is $66.38. The stock has a market capitalization of $302.80 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last posted its 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%. Research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) 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.