Tobias Financial Advisors Inc. Buys New Position in The Coca-Cola Company (NYSE:KO)

Tobias Financial Advisors Inc. bought a new position in The Coca-Cola Company (NYSE:KO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,564 shares of the company’s stock, valued at approximately $222,000.

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

Analyst Upgrades and Downgrades

KO has been the subject of several research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research report on Thursday, February 6th. Piper Sandler lifted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Jefferies Financial Group upgraded 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. Morgan Stanley lifted their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company boosted their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $74.24.

Insiders Place Their Bets

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the transaction, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nikolaos Koumettis sold 55,500 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $71.01, for a total transaction of $3,941,055.00. Following the completion of the sale, the insider now directly owns 246,909 shares in the company, valued at approximately $17,533,008.09. This trade represents a 18.35 % decrease in their position. 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 ninety days. 0.90% of the stock is currently owned by insiders.

Coca-Cola Trading Down 0.2 %

NYSE KO opened at $71.72 on Thursday. The stock has a market capitalization of $308.65 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 3.79 and a beta of 0.45. The business’s fifty day moving average is $70.11 and its 200-day moving average is $66.40. 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 $58.10 and a one year high of $73.95.

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

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.84%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 14th. Coca-Cola’s dividend payout ratio is 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.