Tobias Financial Advisors Inc. Takes Position in The Coca-Cola Company (NYSE:KO)

Tobias Financial Advisors Inc. bought a new position in shares of The Coca-Cola Company (NYSE:KO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,564 shares of the company’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also bought and sold shares of KO. Rice Partnership LLC increased its position in shares of Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after purchasing an additional 6,793 shares during the last quarter. Fiduciary Alliance LLC increased its holdings in shares of Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after buying an additional 8,499 shares during the last quarter. Clark & Stuart Inc purchased a new stake in shares of Coca-Cola during the 4th quarter valued at $1,582,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Coca-Cola by 222.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock worth $13,814,000 after acquiring an additional 132,701 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Coca-Cola by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 893,192 shares of the company’s stock worth $55,610,000 after acquiring an additional 8,810 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of KO opened at $71.72 on Thursday. The Coca-Cola Company has a twelve month low of $58.10 and a twelve month high of $73.95. The company has a market capitalization of $308.65 billion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The firm has a 50 day moving average of $70.11 and a 200 day moving average of $66.40. 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 quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.84%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is currently 82.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KO shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 8th. Finally, Piper Sandler raised their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Two research 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Transactions at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the sale, the chief operating officer now owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock worth $22,263,071 over the last three months. 0.90% of the stock is currently owned by company insiders.

About Coca-Cola

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.