Kennon Green & Company LLC Lowers Position in The Coca-Cola Company (NYSE:KO)

Kennon Green & Company LLC decreased its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,103 shares of the company’s stock after selling 655 shares during the period. Coca-Cola comprises 3.8% of Kennon Green & Company LLC’s portfolio, making the stock its 9th largest holding. Kennon Green & Company LLC’s holdings in Coca-Cola were worth $4,365,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in KO. FMR LLC grew its stake in Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Coca-Cola in the 3rd quarter worth about $269,382,000. Geode Capital Management LLC lifted its holdings in shares of Coca-Cola by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after acquiring an additional 2,966,964 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in Coca-Cola by 7,006.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 2,478,487 shares of the company’s stock valued at $178,104,000 after buying an additional 2,443,612 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.37 on Friday. 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 business’s fifty day moving average price is $63.71 and its two-hundred day moving average price is $66.44. The firm has a market capitalization of $307.46 billion, a PE ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a 1-year low of $57.93 and a 1-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, topping 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%. On average, research analysts expect that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. Coca-Cola’s payout ratio is presently 78.54%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Finally, Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently 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.