12,230 Shares in The Coca-Cola Company (NYSE:KO) Purchased by Enhancing Capital LLC

Enhancing Capital LLC purchased a new stake in shares of The Coca-Cola Company (NYSE:KO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,230 shares of the company’s stock, valued at approximately $761,000.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock valued at $6,664,005,000 after buying an additional 2,966,964 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after acquiring an additional 11,569,920 shares during 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 acquiring an additional 4,013,996 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Coca-Cola by 6.1% during the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company’s stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO stock opened at $70.15 on Tuesday. The company’s 50 day moving average is $66.37 and its 200 day moving average is $66.53. 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 market cap of $301.70 billion, a price-to-earnings ratio of 28.40, a PEG 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 issued its quarterly earnings data 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 return on equity of 45.37% and a net margin of 22.59%. On average, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS 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 given a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is presently 82.59%.

Insider Buying and Selling

In other news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola 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 completion of the sale, the insider now owns 246,909 shares of the company’s stock, 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 sold a total of 313,423 shares of company stock worth $22,263,071 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. TD Cowen upgraded 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 report on Wednesday, January 8th. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, DZ Bank 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 report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

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.