Forvis Mazars Wealth Advisors LLC Reduces Stock Position in The Coca-Cola Company (NYSE:KO)

Forvis Mazars Wealth Advisors LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,912 shares of the company’s stock after selling 3,925 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Coca-Cola were worth $4,664,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Pavion Blue Capital LLC raised its stake in Coca-Cola by 1.3% in the fourth quarter. Pavion Blue Capital LLC now owns 53,376 shares of the company’s stock worth $3,323,000 after buying an additional 702 shares in the last quarter. Howard Capital Management Inc. raised its stake in Coca-Cola by 6.5% in the fourth quarter. Howard Capital Management Inc. now owns 26,050 shares of the company’s stock worth $1,622,000 after buying an additional 1,599 shares in the last quarter. Wealthspire Advisors LLC raised its stake in Coca-Cola by 4.7% in the fourth quarter. Wealthspire Advisors LLC now owns 145,370 shares of the company’s stock worth $9,051,000 after buying an additional 6,460 shares in the last quarter. Marshall Investment Management LLC bought a new position in Coca-Cola in the fourth quarter worth about $128,000. Finally, TCW Group Inc. raised its stake in Coca-Cola by 0.6% in the fourth quarter. TCW Group Inc. now owns 143,814 shares of the company’s stock worth $8,954,000 after buying an additional 877 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on KO shares. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. decreased their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Piper Sandler decreased their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, UBS Group raised their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Trading Up 1.9 %

Shares of Coca-Cola stock opened at $71.37 on Friday. The company’s fifty day simple moving average is $63.71 and its 200-day simple moving average is $66.42. 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 Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, equities 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. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 78.54%.

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.