Red Wave Investments LLC Sells 1,479 Shares of The Coca-Cola Company (NYSE:KO)

Red Wave Investments LLC reduced its stake in shares of The Coca-Cola Company (NYSE:KO) by 25.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,295 shares of the company’s stock after selling 1,479 shares during the quarter. Red Wave Investments LLC’s holdings in Coca-Cola were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in KO. Hara Capital LLC bought a new stake in shares of Coca-Cola in the 3rd quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Coca-Cola in the 3rd quarter valued at $36,000. MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola during the 3rd quarter worth about $43,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter worth $37,000. Finally, MilWealth Group LLC acquired a new position in Coca-Cola in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.9 %

Shares of NYSE:KO opened at $71.37 on Friday. The stock has a market capitalization of $307.46 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The company’s 50-day moving average price is $63.71 and its two-hundred day moving average price is $66.44. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating 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%. On average, equities analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date is 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 dividend yield of 2.86%. Coca-Cola’s dividend payout ratio (DPR) is currently 78.54%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KO. UBS Group boosted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley upped their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, 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 report on Thursday, February 13th. Two investment 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. Based on data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $73.82.

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.