The Coca-Cola Company (NYSE:KO) Shares Bought by Kirtland Hills Capital Management LLC

Kirtland Hills Capital Management LLC grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,563 shares of the company’s stock after purchasing an additional 384 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in Coca-Cola were worth $284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Harvest Portfolios Group Inc. acquired a new position in shares of Coca-Cola during the 3rd quarter valued at about $18,383,000. Balentine LLC increased its stake in shares of Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after buying an additional 13,685 shares during the period. Rice Partnership LLC increased its stake in shares of Coca-Cola by 7.1% during the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after buying an additional 6,793 shares during the period. Sheaff Brock Investment Advisors LLC increased its stake in shares of Coca-Cola by 104.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after buying an additional 59,503 shares during the period. Finally, Fiduciary Alliance LLC increased its stake in shares of Coca-Cola by 87.7% during the fourth 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 period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.54 on Wednesday. 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 stock has a fifty day moving average price of $64.03 and a 200 day moving average price of $66.44. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a market cap of $308.16 billion, a PE ratio of 28.96, a P/E/G ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (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%. Sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 78.54%.

Insider Activity at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

KO has been the topic of a number of recent research reports. Evercore ISI upped their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their target price 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. Piper Sandler lowered their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. UBS Group upped their price target on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group raised Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.