Elo Mutual Pension Insurance Co Has $23.26 Million Stake in The Coca-Cola Company (NYSE:KO)

Elo Mutual Pension Insurance Co lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 3.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 373,644 shares of the company’s stock after selling 15,308 shares during the period. Coca-Cola makes up 0.5% of Elo Mutual Pension Insurance Co’s investment portfolio, making the stock its 29th biggest holding. Elo Mutual Pension Insurance Co’s holdings in Coca-Cola were worth $23,263,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Rice Partnership LLC lifted its holdings in shares of Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after acquiring an additional 6,793 shares during the period. Fiduciary Alliance LLC boosted its holdings in Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Coca-Cola by 14.5% in the 3rd 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 period. Clark & Stuart Inc acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $1,582,000. Finally, Wilmington Savings Fund Society FSB lifted its position in shares of Coca-Cola by 222.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock worth $13,814,000 after buying an additional 132,701 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Finally, Morgan Stanley increased their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.24.

Insider Buying and Selling

In other news, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the sale, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock valued at $22,263,071 in the last 90 days. 0.97% of the stock is owned by insiders.

Coca-Cola Price Performance

KO opened at $70.02 on Thursday. The company has a fifty day moving average price of $67.45 and a two-hundred day moving average price of $66.43. 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 $301.32 billion, a PE ratio of 28.35, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week 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, 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%. As a group, analysts anticipate 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. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.91%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

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.