The Coca-Cola Company (NYSE:KO) Shares Sold by Flynn Zito Capital Management LLC

Flynn Zito Capital Management LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,252 shares of the company’s stock after selling 414 shares during the quarter. Flynn Zito Capital Management LLC’s holdings in Coca-Cola were worth $887,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Hara Capital LLC acquired a new stake in Coca-Cola during the 3rd quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola during the third quarter worth $36,000. MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola during the third quarter valued at $43,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the fourth quarter valued at $37,000. Finally, MilWealth Group LLC purchased a new stake in Coca-Cola in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

NYSE:KO opened at $70.80 on Thursday. The firm has a market cap of $304.53 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The stock has a 50 day moving average of $64.19 and a two-hundred day moving average of $66.47. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, analysts expect that The Coca-Cola Company will post 2.96 earnings per share 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. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.88%. 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 is currently 82.59%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KO. Piper Sandler reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Evercore ISI upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.82.

Insider Buying and Selling at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the company’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 document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is 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.