The Coca-Cola Company (NYSE:KO) Shares Sold by Lokken Investment Group LLC

Lokken Investment Group LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,180 shares of the company’s stock after selling 919 shares during the period. Lokken Investment Group LLC’s holdings in Coca-Cola were worth $322,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola in the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the fourth quarter worth $31,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the fourth quarter worth $37,000. Murphy & Mullick Capital Management Corp acquired a new position in Coca-Cola in the fourth quarter worth $38,000. Finally, Hoey Investments Inc. increased its stake in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on KO. Wells Fargo & Company raised their price target 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. JPMorgan Chase & Co. decreased 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 target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. UBS Group raised their price target on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. 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 research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Insiders Place Their Bets

In other news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This represents a 18.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Trading Up 1.9 %

Shares of NYSE:KO opened at $71.69 on Tuesday. The company has a 50 day moving average of $67.95 and a 200-day moving average of $66.38. 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 firm has a market cap of $308.50 billion, a P/E ratio of 29.02, a P/E/G ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. As a group, analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

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.