Forum Financial Management LP Increases Stake in The Coca-Cola Company (NYSE:KO)

Forum Financial Management LP lifted its position in The Coca-Cola Company (NYSE:KO - Free Report) by 24.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,408 shares of the company's stock after purchasing an additional 9,161 shares during the period. Forum Financial Management LP's holdings in Coca-Cola were worth $2,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in Coca-Cola in the 4th quarter worth $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola in the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the fourth quarter valued at approximately $37,000. Murphy & Mullick Capital Management Corp purchased a new position in Coca-Cola during the 4th quarter valued at approximately $38,000. Finally, Hoey Investments Inc. increased its stake in Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after acquiring an additional 181 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Up 1.8 %

NYSE KO traded up $1.31 during trading on Friday, reaching $72.99. 20,745,798 shares of the company's stock traded hands, compared to its average volume of 15,385,871. The company's 50 day simple moving average is $70.39 and its two-hundred day simple moving average is $66.39. The Coca-Cola Company has a 12-month low of $59.72 and a 12-month high of $73.95. The firm has a market cap of $314.13 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO - Get Free Report) last posted its 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 return on equity of 45.37% and a net margin of 22.59%. 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 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 annualized dividend and a yield of 2.79%. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, March 14th. Coca-Cola's dividend payout ratio (DPR) is 82.59%.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Henrique Braun sold 25,277 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares in the company, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

KO has been the subject of a number of research reports. Piper Sandler increased their target price on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Evercore ISI boosted their target price 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. Wells Fargo & Company increased their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. Finally, UBS Group upped their price objective on Coca-Cola from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday. Two 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 an average rating of "Buy" and a consensus price target of $74.59.

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.