The Coca-Cola Company (NYSE:KO) Shares Sold by Keystone Financial Planning Inc.

Keystone Financial Planning Inc. lowered its stake in The Coca-Cola Company (NYSE:KO) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,077 shares of the company’s stock after selling 240 shares during the quarter. Coca-Cola comprises 0.7% of Keystone Financial Planning Inc.’s portfolio, making the stock its 27th largest position. Keystone Financial Planning Inc.’s holdings in Coca-Cola were worth $2,308,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Parallel Advisors LLC grew its stake in shares of Coca-Cola by 0.9% during the second quarter. Parallel Advisors LLC now owns 82,345 shares of the company’s stock valued at $5,241,000 after acquiring an additional 755 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Coca-Cola by 9.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 87,195 shares of the company’s stock valued at $5,550,000 after buying an additional 7,594 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Coca-Cola by 2.8% during the second quarter. Envestnet Asset Management Inc. now owns 4,847,781 shares of the company’s stock worth $308,561,000 after buying an additional 130,581 shares in the last quarter. Williams Financial LLC acquired a new stake in Coca-Cola in the second quarter valued at $6,593,000. Finally, Hoge Financial Services LLC boosted its stake in Coca-Cola by 6.1% during the 2nd quarter. Hoge Financial Services LLC now owns 3,850 shares of the company’s stock valued at $245,000 after acquiring an additional 222 shares during the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of KO traded up $0.72 during trading hours on Monday, reaching $61.79. 9,750,713 shares of the company’s stock traded hands, compared to its average volume of 15,050,498. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The business’s fifty day simple moving average is $62.91 and its two-hundred day simple moving average is $66.50. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.06 and a quick ratio of 0.90. The firm has a market capitalization of $266.18 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a net margin of 22.45% and a return on equity of 44.01%. The company had revenue of $11.85 billion during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the business posted $0.74 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current year.

Coca-Cola Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Friday, November 29th. Coca-Cola’s dividend payout ratio is presently 80.17%.

Insider Activity

In other news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total transaction of $6,403,000.00. Following the completion of the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This represents a 22.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KO shares. Truist Financial upped their target price on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Morgan Stanley decreased their price objective on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Piper Sandler began coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They set an “overweight” rating and a $74.00 target price on the stock. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average target price of $72.60.

Coca-Cola Company 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.