Stifel Financial Corp Has $532.34 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Stifel Financial Corp boosted its stake in The Coca-Cola Company (NYSE:KO) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,550,271 shares of the company’s stock after acquiring an additional 41,332 shares during the period. Stifel Financial Corp’s holdings in Coca-Cola were worth $532,342,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KO. Crowley Wealth Management Inc. acquired a new stake in Coca-Cola during the fourth quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $31,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $37,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Coca-Cola in the 4th quarter valued at $38,000. Finally, Hoey Investments Inc. lifted its position in shares of Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after acquiring an additional 181 shares during the period. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KO. Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Cfra Research raised Coca-Cola to a “strong-buy” rating in a research note on Tuesday, April 15th. Evercore ISI raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. UBS Group upped their target price on Coca-Cola from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Buy” and a consensus target price of $74.59.

Coca-Cola Price Performance

Coca-Cola stock opened at $72.99 on Monday. The Coca-Cola Company has a 52 week low of $59.72 and a 52 week high of $73.95. The company’s 50 day moving average price is $70.39 and its two-hundred day moving average price is $66.36. The stock has a market cap of $314.13 billion, a P/E ratio of 29.55, a P/E/G ratio of 3.79 and a beta of 0.45. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. On average, equities analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.79%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, March 14th. Coca-Cola’s payout ratio is presently 82.59%.

Insider Activity

In related news, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were 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 in the company, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock valued at $22,263,071 in the last three months. Company insiders own 0.97% of the company’s stock.

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.