The Coca-Cola Company (NYSE:KO) Stake Increased by Flputnam Investment Management Co.

Flputnam Investment Management Co. boosted its stake in The Coca-Cola Company (NYSE:KO) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 159,375 shares of the company’s stock after buying an additional 5,807 shares during the period. Flputnam Investment Management Co.’s holdings in Coca-Cola were worth $9,923,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in KO. Hara Capital LLC acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at about $35,000. MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola in the third quarter valued at about $43,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the fourth quarter valued at approximately $37,000. MilWealth Group LLC bought a new position in Coca-Cola during the 4th quarter worth approximately $40,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $43,000. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KO. DZ Bank upgraded 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 Thursday, February 13th. JPMorgan Chase & Co. decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Barclays increased their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Evercore ISI lifted their target price on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler increased their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday. Two equities research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Stock Performance

Shares of KO opened at $71.20 on Friday. The firm has a market capitalization of $306.22 billion, a PE ratio of 28.82, a P/E/G ratio of 3.79 and a beta of 0.61. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm has a 50-day moving average price of $64.53 and a 200 day moving average price of $66.53. 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 posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (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%. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal 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 paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 82.59%.

Insider Activity

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lisa Chang sold 13,445 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,646 shares of company stock worth $16,515,469 over the last 90 days. 0.97% of the stock is currently owned by company insiders.

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.