The Coca-Cola Company (NYSE:KO) Stock Holdings Boosted by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lifted its position in The Coca-Cola Company (NYSE:KO) by 3.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,947 shares of the company’s stock after buying an additional 1,325 shares during the period. Thoroughbred Financial Services LLC’s holdings in Coca-Cola were worth $2,487,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KO. Rice Partnership LLC lifted its holdings in Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after acquiring an additional 6,793 shares during the last quarter. 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 worth $1,132,000 after buying an additional 8,499 shares in the last quarter. Wellington Management Group LLP grew its position in Coca-Cola by 14.5% in the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. Clark & Stuart Inc bought a new position in shares of Coca-Cola in the fourth quarter valued at $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 valued at $13,814,000 after acquiring an additional 132,701 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Down 4.5 %

Shares of KO opened at $69.87 on Friday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.95. The firm has a market capitalization of $300.67 billion, a P/E ratio of 28.29, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a 50-day simple moving average of $68.72 and a 200-day simple moving average of $66.45. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, topping 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%. On average, equities research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.51 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. Coca-Cola’s dividend payout ratio is currently 82.59%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KO. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Morgan Stanley lifted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. TD Cowen upgraded shares of 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 Wednesday, January 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $74.24.

Insider Transactions at Coca-Cola

In other news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 313,423 shares of company stock valued at $22,263,071. Company insiders own 0.97% of the company’s stock.

Coca-Cola Company 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.