44 Wealth Management LLC Has $2.85 Million Stock Position in The Coca-Cola Company (NYSE:KO)

44 Wealth Management LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,791 shares of the company’s stock after selling 1,380 shares during the quarter. Coca-Cola makes up about 1.1% of 44 Wealth Management LLC’s holdings, making the stock its 17th biggest position. 44 Wealth Management LLC’s holdings in Coca-Cola were worth $2,851,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Callan Capital LLC grew its stake in Coca-Cola by 21.3% in the 4th quarter. Callan Capital LLC now owns 8,743 shares of the company’s stock valued at $544,000 after buying an additional 1,536 shares during the last quarter. Redmond Asset Management LLC grew its stake in Coca-Cola by 291.8% in the 4th quarter. Redmond Asset Management LLC now owns 11,974 shares of the company’s stock valued at $746,000 after buying an additional 8,918 shares during the last quarter. Winebrenner Capital Management LLC acquired a new position in Coca-Cola in the 4th quarter valued at $1,239,000. Navellier & Associates Inc. grew its stake in Coca-Cola by 17.7% in the 4th quarter. Navellier & Associates Inc. now owns 25,410 shares of the company’s stock valued at $1,582,000 after buying an additional 3,817 shares during the last quarter. Finally, Prentice Wealth Management LLC grew its stake in Coca-Cola by 6.6% in the 4th quarter. Prentice Wealth Management LLC now owns 10,385 shares of the company’s stock valued at $647,000 after buying an additional 639 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.9 %

Shares of KO stock opened at $71.37 on Friday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a market capitalization of $307.46 billion, a P/E ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61. The firm has a 50-day moving average price of $63.71 and a 200 day moving average price of $66.44. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is an increase 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 payout ratio is currently 78.54%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KO. Wells Fargo & Company raised their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Barclays raised their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Finally, UBS Group raised their price target on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

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.