Canopy Partners LLC Purchases 578 Shares of The Coca-Cola Company (NYSE:KO)

Canopy Partners LLC raised its position in The Coca-Cola Company (NYSE:KO) by 9.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,637 shares of the company’s stock after acquiring an additional 578 shares during the period. Canopy Partners LLC’s holdings in Coca-Cola were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Rice Partnership LLC lifted its holdings in Coca-Cola by 7.1% during the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after purchasing an additional 6,793 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after buying an additional 8,499 shares in the last quarter. Clark & Stuart Inc bought a new position in Coca-Cola in the 4th quarter worth approximately $1,582,000. Wilmington Savings Fund Society FSB grew its stake in Coca-Cola by 222.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock valued at $13,814,000 after buying an additional 132,701 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Coca-Cola by 1.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 893,192 shares of the company’s stock valued at $55,610,000 after acquiring an additional 8,810 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO opened at $69.87 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $300.67 billion, a P/E ratio of 28.29, a PEG ratio of 3.79 and a beta of 0.45. The stock has a 50-day moving average price of $68.72 and a 200-day moving average price of $66.38. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.95.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

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

Analysts Set New Price Targets

KO has been the subject of a number of analyst reports. Barclays reaffirmed an “overweight” rating on shares of Coca-Cola in a report on Thursday, March 27th. JPMorgan Chase & Co. cut their target price on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Piper Sandler upped their price target on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research 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 for the company in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Two equities research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 246,909 shares in the company, valued at $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock valued at $22,263,071 over the last three months. Insiders own 0.97% of the company’s stock.

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.