Sigma Investment Counselors Inc. Grows Stake in The Coca-Cola Company (NYSE:KO)

Sigma Investment Counselors Inc. grew its holdings in shares of The Coca-Cola Company (NYSE:KO) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,890 shares of the company’s stock after purchasing an additional 1,018 shares during the period. Sigma Investment Counselors Inc.’s holdings in Coca-Cola were worth $4,165,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hara Capital LLC purchased a new stake in Coca-Cola in the third quarter valued at about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Coca-Cola during the third quarter valued at about $36,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Coca-Cola during the third quarter valued at about $43,000. Retirement Wealth Solutions LLC purchased a new position in shares of Coca-Cola in the 4th quarter valued at approximately $37,000. Finally, MilWealth Group LLC acquired a new stake in Coca-Cola in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

KO opened at $71.37 on Friday. The stock 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 company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm has a fifty day moving average price of $63.71 and a 200 day moving average price of $66.42. 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 posted 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 net margin of 22.59% and a return on equity of 45.37%. Equities research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 78.54%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KO. Barclays raised their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. UBS Group raised their target price 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 boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler decreased their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.82.

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.