TrueMark Investments LLC Buys 5,624 Shares of The Coca-Cola Company (NYSE:KO)

TrueMark Investments LLC increased its position in The Coca-Cola Company (NYSE:KO) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,479 shares of the company’s stock after buying an additional 5,624 shares during the period. Coca-Cola accounts for approximately 1.3% of TrueMark Investments LLC’s investment portfolio, making the stock its 29th biggest holding. TrueMark Investments LLC’s holdings in Coca-Cola were worth $4,139,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Engines Advisors L.L.C. boosted its stake in Coca-Cola by 88.6% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 10,320 shares of the company’s stock valued at $643,000 after purchasing an additional 4,847 shares during the last quarter. Financial Counselors Inc. boosted its position in shares of Coca-Cola by 0.7% during the fourth quarter. Financial Counselors Inc. now owns 308,405 shares of the company’s stock valued at $19,201,000 after buying an additional 2,099 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its position in shares of Coca-Cola by 1.3% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 32,592 shares of the company’s stock valued at $2,029,000 after buying an additional 415 shares during the last quarter. Morey & Quinn Wealth Partners LLC bought a new stake in Coca-Cola during the fourth quarter worth $255,000. Finally, Ipsen Advisor Group LLC bought a new position in Coca-Cola during the 4th quarter valued at $205,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Down 0.1 %

KO stock opened at $68.85 on Wednesday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The firm has a market capitalization of $296.30 billion, a PE ratio of 27.87, a PEG ratio of 3.79 and a beta of 0.57. 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 stock has a 50-day simple moving average of $67.28 and a two-hundred day simple moving average of $66.40.

Coca-Cola (NYSE:KO) last posted 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%. On average, equities analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 2.96%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Analyst Ratings Changes

KO has been the subject of several recent analyst reports. Piper Sandler upped their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. UBS Group raised their target price on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley boosted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Barclays raised their price objective on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction 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 sale, the insider now directly owns 246,909 shares of the company’s stock, valued at $17,520,662.64. This represents a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 in the last ninety days. 0.97% of the stock is currently owned by insiders.

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.