Angeles Investment Advisors LLC Reduces Stake in The Coca-Cola Company (NYSE:KO)

Angeles Investment Advisors LLC reduced its position in The Coca-Cola Company (NYSE:KO) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,873 shares of the company’s stock after selling 1,162 shares during the period. Angeles Investment Advisors LLC’s holdings in Coca-Cola were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in Coca-Cola during the fourth quarter valued at $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola during the fourth quarter valued at $31,000. Retirement Wealth Solutions LLC purchased a new position in Coca-Cola during the fourth quarter valued at $37,000. MilWealth Group LLC purchased a new position in Coca-Cola during the fourth quarter valued at $40,000. Finally, Hara Capital LLC lifted its position in Coca-Cola by 43.7% during the fourth quarter. Hara Capital LLC now owns 691 shares of the company’s stock valued at $43,000 after purchasing an additional 210 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coca-Cola news, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock valued at $22,263,071 over the last ninety days. 0.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KO has been the topic of several analyst reports. Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Wells Fargo & Company raised their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. Morgan Stanley raised their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, 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 report on Wednesday, January 8th. Two equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Trading Down 1.6 %

Shares of KO stock opened at $68.58 on Monday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. 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 stock’s 50-day moving average price is $67.00 and its 200-day moving average price is $66.43. The stock has a market capitalization of $295.12 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

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, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.97%. The ex-dividend date is Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

About Coca-Cola

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.