Founders Grove Wealth Partners LLC Purchases New Stake in The Coca-Cola Company (NYSE:KO)

Founders Grove Wealth Partners LLC purchased a new stake in The Coca-Cola Company (NYSE:KO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,690 shares of the company’s stock, valued at approximately $479,000.

Several other institutional investors have also recently added to or reduced their stakes in KO. FMR LLC increased its stake in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares during the last quarter. Wellington Management Group LLP increased its stake in Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Coca-Cola during the third quarter valued at $269,382,000. Geode Capital Management LLC increased its stake in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after purchasing an additional 2,966,964 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its position in shares of Coca-Cola by 7,006.8% during the third quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after acquiring an additional 2,443,612 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

Shares of KO opened at $61.98 on Wednesday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $267.00 billion, a PE ratio of 25.61, a P/E/G ratio of 3.83 and a beta of 0.61. The firm has a 50-day moving average price of $62.78 and a 200 day moving average price of $66.47.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the prior year, the company earned $0.74 EPS. Coca-Cola’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Friday, November 29th. Coca-Cola’s payout ratio is 80.17%.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Truist Financial upped their price target on shares of Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler assumed coverage on shares of Coca-Cola in a research report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 price target for the company. Finally, Barclays lowered their price target on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus target price of $72.60.

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.