Fox Run Management L.L.C. Invests $1.40 Million in The Coca-Cola Company (NYSE:KO)

Fox Run Management L.L.C. acquired a new position in shares of The Coca-Cola Company (NYSE:KO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,521 shares of the company's stock, valued at approximately $1,402,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mainstream Capital Management LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola in the fourth quarter worth approximately $37,000. MilWealth Group LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $40,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Coca-Cola during the 4th quarter worth approximately $43,000. Finally, Hara Capital LLC increased its stake in shares of Coca-Cola by 43.7% in the 4th quarter. Hara Capital LLC now owns 691 shares of the company's stock valued at $43,000 after acquiring an additional 210 shares in the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on KO shares. Evercore ISI raised their price target 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. Piper Sandler raised their target price on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Wells Fargo & Company upped their price target on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and boosted their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Two research 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.24.

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Coca-Cola Stock Performance

Shares of NYSE KO traded down $0.10 during midday trading on Tuesday, reaching $68.85. The company's stock had a trading volume of 12,512,427 shares, compared to its average volume of 14,076,632. The stock has a market capitalization of $296.30 billion, a P/E ratio of 27.87, a PEG ratio of 3.79 and a beta of 0.57. 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 firm has a 50 day moving average price of $67.28 and a 200-day moving average price of $66.40. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS 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, 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.96%. This is a positive change from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio (DPR) is presently 82.59%.

Insider Buying and Selling

In other news, COO Henrique Braun sold 25,277 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the transaction, the chief operating officer now directly owns 52,466 shares of the company's stock, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by company insiders.

Coca-Cola Company 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.