The Coca-Cola Company (NYSE:KO) Shares Sold by Operose Advisors LLC

Operose Advisors LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 47.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,522 shares of the company’s stock after selling 1,350 shares during the period. Operose Advisors LLC’s holdings in Coca-Cola were worth $95,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of KO. Charles Schwab Investment Management Inc. lifted its position in shares of Coca-Cola by 18.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after buying an additional 11,569,920 shares during the last quarter. Norges Bank purchased a new stake in Coca-Cola in the fourth quarter valued at $3,402,151,000. Franklin Resources Inc. boosted its stake in Coca-Cola by 21.9% in the fourth quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company’s stock valued at $2,123,301,000 after acquiring an additional 6,118,819 shares in the last quarter. Invesco Ltd. boosted its position in shares of Coca-Cola by 18.2% in the 4th quarter. Invesco Ltd. now owns 24,566,933 shares of the company’s stock valued at $1,529,537,000 after purchasing an additional 3,791,300 shares during the period. Finally, Amundi increased its position in Coca-Cola by 3.1% during the fourth quarter. Amundi now owns 18,313,696 shares of the company’s stock worth $1,130,138,000 after buying an additional 550,582 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have 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 stock an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler raised their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their target price 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. Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Stock Performance

NYSE:KO opened at $71.89 on Wednesday. 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 Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.95. The firm’s fifty day simple moving average is $69.96 and its 200-day simple moving average is $66.36. The stock has a market cap of $309.37 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping 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%. Analysts expect 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 was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.84%. Coca-Cola’s payout ratio is currently 82.59%.

Insider Buying and Selling at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the sale, the chief operating officer now owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,423 shares of company stock valued at $22,263,071. Insiders own 0.90% of the company’s stock.

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.