The Coca-Cola Company (NYSE:KO) Shares Sold by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.6% in the fourth quarter, Holdings Channel reports. The fund owned 245,946 shares of the company’s stock after selling 1,558 shares during the period. Coca-Cola accounts for about 1.6% of Asset Advisors Investment Management LLC’s portfolio, making the stock its 21st biggest position. Asset Advisors Investment Management LLC’s holdings in Coca-Cola were worth $15,313,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investment Partners Asset Management Inc. increased its holdings in shares of Coca-Cola by 2.2% during the third quarter. Investment Partners Asset Management Inc. now owns 6,956 shares of the company’s stock valued at $500,000 after acquiring an additional 150 shares in the last quarter. Wells Trecaso Financial Group LLC lifted its position in shares of Coca-Cola by 4.8% during the fourth quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock valued at $225,000 after purchasing an additional 164 shares in the last quarter. Atlas Brown Inc. boosted its stake in shares of Coca-Cola by 0.8% in the 4th quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock worth $1,309,000 after buying an additional 166 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in Coca-Cola by 0.4% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,198 shares of the company’s stock valued at $2,440,000 after purchasing an additional 169 shares during the period. Finally, Great Diamond Partners LLC grew its position in Coca-Cola by 1.7% during the fourth quarter. Great Diamond Partners LLC now owns 10,314 shares of the company’s stock valued at $642,000 after buying an additional 169 shares during the period. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 1.9 %

NYSE:KO opened at $71.37 on Monday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a market cap of $307.46 billion, a P/E ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61. The firm has a 50-day simple moving average of $63.71 and a 200-day simple moving average of $66.41. 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 released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating 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%. Equities analysts anticipate 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. 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%. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is currently 78.54%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KO shares. Evercore ISI lifted their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Finally, Wells Fargo & Company increased their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.