The Coca-Cola Company (NYSE:KO) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,288 shares of the company’s stock after selling 242 shares during the period. Linscomb Wealth Inc.’s holdings in Coca-Cola were worth $1,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KO. Alphinity Investment Management Pty Ltd raised its holdings in Coca-Cola by 8.1% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 10,484,527 shares of the company’s stock valued at $652,767,000 after buying an additional 783,161 shares during the period. Versor Investments LP increased its position in shares of Coca-Cola by 3.9% in the fourth quarter. Versor Investments LP now owns 18,000 shares of the company’s stock worth $1,121,000 after acquiring an additional 673 shares in the last quarter. Motiv8 Investments LLC raised its stake in shares of Coca-Cola by 33.7% in the 4th quarter. Motiv8 Investments LLC now owns 20,013 shares of the company’s stock valued at $1,246,000 after acquiring an additional 5,045 shares during the period. First Command Advisory Services Inc. lifted its holdings in shares of Coca-Cola by 5.8% during the 4th quarter. First Command Advisory Services Inc. now owns 17,230 shares of the company’s stock valued at $1,073,000 after acquiring an additional 946 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its position in Coca-Cola by 9,001.5% during the 4th quarter. Proficio Capital Partners LLC now owns 675,057 shares of the company’s stock worth $42,029,000 after purchasing an additional 667,640 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This represents a 29.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 232,646 shares of company stock worth $16,515,469 over the last quarter. 0.97% of the stock is owned by company insiders.

Coca-Cola Price Performance

Shares of KO opened at $71.20 on Friday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week 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 firm has a market cap of $306.22 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.79 and a beta of 0.61. The stock has a 50 day moving average of $64.53 and a 200-day moving average of $66.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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%. As a group, analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is currently 82.59%.

Analyst Upgrades and Downgrades

Several research analysts have commented on KO shares. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. 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 research report on Wednesday, January 8th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. Finally, Piper Sandler raised their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average target price of $74.24.

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.