The Coca-Cola Company (NYSE:KO) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 790,076 shares of the company’s stock after selling 12,980 shares during the quarter. Coca-Cola makes up approximately 0.4% of Amalgamated Bank’s holdings, making the stock its 28th largest position. Amalgamated Bank’s holdings in Coca-Cola were worth $49,190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KO. FMR LLC boosted its position in Coca-Cola by 13.7% during the 3rd quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after acquiring an additional 11,206,995 shares during the period. Wellington Management Group LLP boosted its position in Coca-Cola by 14.5% during the 3rd 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 during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Coca-Cola during the 3rd quarter worth $269,382,000. Geode Capital Management LLC boosted its position in Coca-Cola by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares during the period. Finally, Pathway Financial Advisers LLC boosted its position in Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock worth $178,104,000 after acquiring an additional 2,443,612 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KO. Wells Fargo & Company boosted their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Piper Sandler cut their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Stock Down 1.1 %

Shares of Coca-Cola stock opened at $70.58 on Tuesday. The firm has a market capitalization of $304.04 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. 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 stock’s fifty day moving average is $63.87 and its 200-day moving average is $66.42.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. Equities analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently declared 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 2.89%. This is a positive change 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 78.54%.

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.