The Coca-Cola Company (NYSE:KO) Shares Sold by Kennon Green & Company LLC

Kennon Green & Company LLC decreased its holdings in The Coca-Cola Company (NYSE:KO) by 0.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 70,103 shares of the company’s stock after selling 655 shares during the period. Coca-Cola makes up 3.8% of Kennon Green & Company LLC’s portfolio, making the stock its 9th biggest position. Kennon Green & Company LLC’s holdings in Coca-Cola were worth $4,365,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Howard Capital Management Group LLC grew its stake in shares of Coca-Cola by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock worth $28,716,000 after acquiring an additional 2,069 shares in the last quarter. McAdam LLC boosted its position in Coca-Cola by 8.0% during the third quarter. McAdam LLC now owns 12,470 shares of the company’s stock worth $896,000 after purchasing an additional 919 shares during the period. International Assets Investment Management LLC boosted its position in Coca-Cola by 7,792.8% during the third quarter. International Assets Investment Management LLC now owns 1,744,302 shares of the company’s stock worth $125,346,000 after purchasing an additional 1,722,202 shares during the period. Grimes & Company Inc. boosted its position in Coca-Cola by 5.3% during the third quarter. Grimes & Company Inc. now owns 22,471 shares of the company’s stock worth $1,615,000 after purchasing an additional 1,130 shares during the period. Finally, Mcdaniel Terry & Co. lifted its holdings in shares of Coca-Cola by 0.9% during the third quarter. Mcdaniel Terry & Co. now owns 423,150 shares of the company’s stock worth $30,408,000 after buying an additional 3,607 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of research reports. Evercore ISI lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler reduced their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley boosted their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Barclays upped their target price on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Stock Performance

NYSE KO opened at $71.37 on Friday. The stock has a market capitalization of $307.46 billion, a PE ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61. The business has a 50 day simple moving average of $63.71 and a two-hundred day simple moving average of $66.44. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 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%. On average, research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. 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 payout ratio is 78.54%.

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.