Stack Financial Management Inc Trims Position in The Coca-Cola Company (NYSE:KO)

Stack Financial Management Inc decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 0.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 335,723 shares of the company’s stock after selling 665 shares during the quarter. Coca-Cola makes up 1.9% of Stack Financial Management Inc’s holdings, making the stock its 20th largest holding. Stack Financial Management Inc’s holdings in Coca-Cola were worth $20,902,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KO. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola during the third quarter valued at approximately $18,383,000. Balentine LLC grew its stake in Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after acquiring an additional 13,685 shares in the last quarter. Rice Partnership LLC increased its holdings in Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after acquiring an additional 6,793 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in Coca-Cola by 104.9% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares in the last quarter. Finally, Fiduciary Alliance LLC grew its position in shares of Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO opened at $70.58 on Tuesday. The business has a fifty day moving average of $63.87 and a 200 day moving average of $66.42. The stock has a market cap of $304.04 billion, a P/E ratio of 28.57, a PEG ratio of 3.79 and a beta of 0.61. 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 Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, March 14th. 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 dividend yield of 2.89%. Coca-Cola’s dividend payout ratio (DPR) is 78.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on KO shares. Wells Fargo & Company boosted their target price on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. UBS Group lifted their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Evercore ISI increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. Finally, Morgan Stanley upped their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.