Fmr LLC Lowers Stake in The Coca-Cola Company (NYSE:KO)

FMR LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 10.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,000,270 shares of the company's stock after selling 9,961,106 shares during the quarter. FMR LLC owned approximately 1.93% of Coca-Cola worth $5,167,597,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola during the 4th quarter worth approximately $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the 4th quarter worth $31,000. Murphy & Mullick Capital Management Corp acquired a new stake in Coca-Cola during the fourth quarter worth about $38,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the fourth quarter valued at approximately $37,000. 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 worth $38,000 after buying an additional 181 shares during the last quarter. Institutional investors own 70.26% of the company's stock.

Coca-Cola Price Performance

KO stock traded up $0.74 during trading on Thursday, reaching $70.69. The company's stock had a trading volume of 10,515,877 shares, compared to its average volume of 15,237,953. The company's fifty day moving average is $69.27 and its 200-day moving average is $66.36. The company has a market capitalization of $304.21 billion, a P/E ratio of 28.55, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The Coca-Cola Company has a 1 year low of $57.93 and a 1 year high of $73.95. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

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Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings results 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 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 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's payout ratio is 82.59%.

Insider Buying and Selling

In related news, 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 transaction of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares of the company's stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock worth $22,263,071 in the last three months. Corporate insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent research reports. DZ Bank upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target on the stock in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and increased their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Morgan Stanley increased their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. TD Cowen raised 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 Wednesday, January 8th. Finally, Piper Sandler raised their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.24.

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.