The Coca-Cola Company (NYSE:KO) Shares Sold by WESPAC Advisors LLC

WESPAC Advisors LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 13.7% during the 4th quarter, Holdings Channel reports. The fund owned 16,936 shares of the company’s stock after selling 2,699 shares during the quarter. WESPAC Advisors LLC’s holdings in Coca-Cola were worth $1,054,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hara Capital LLC acquired a new stake in Coca-Cola in the third quarter valued at approximately $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at $36,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola in the fourth quarter valued at $37,000. MilWealth Group LLC acquired a new stake in Coca-Cola in the fourth quarter valued at $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Coca-Cola in the third quarter valued at $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on KO shares. Piper Sandler cut their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Evercore ISI raised their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, Morgan Stanley lifted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Two investment 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Trading Up 1.9 %

Shares of KO stock 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 Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. 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 business’s fifty day moving average price is $63.71 and its 200 day moving average price is $66.42.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. As a group, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

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

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.