Colonial River Investments LLC Reduces Stock Position in The Coca-Cola Company (NYSE:KO)

Colonial River Investments LLC lowered its holdings in shares of The Coca-Cola Company (NYSE:KO) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,839 shares of the company’s stock after selling 1,011 shares during the quarter. Colonial River Investments LLC’s holdings in Coca-Cola were worth $426,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Howard Capital Management Group LLC lifted its holdings in shares of Coca-Cola by 0.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock worth $28,716,000 after buying an additional 2,069 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in shares of Coca-Cola by 14.3% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 13,613 shares of the company’s stock worth $978,000 after buying an additional 1,698 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Coca-Cola by 12.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 884,382 shares of the company’s stock worth $63,552,000 after buying an additional 99,047 shares during the period. GHP Investment Advisors Inc. lifted its holdings in shares of Coca-Cola by 12.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 11,499 shares of the company’s stock worth $826,000 after buying an additional 1,229 shares during the period. Finally, Bristlecone Advisors LLC purchased a new stake in shares of Coca-Cola in the 3rd quarter worth $224,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.9 %

Shares of KO stock opened at $71.37 on Monday. The stock’s 50-day simple moving average is $63.71 and its 200-day simple moving average is $66.41. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm 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 Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53.

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%. Equities analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. Coca-Cola’s dividend payout ratio is currently 78.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays boosted their price target on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $73.82.

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.