MGO One Seven LLC Has $3.40 Million Position in The Coca-Cola Company (NYSE:KO)

MGO One Seven LLC grew its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 11.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,602 shares of the company's stock after acquiring an additional 5,700 shares during the quarter. MGO One Seven LLC's holdings in Coca-Cola were worth $3,400,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Rice Partnership LLC raised its position in Coca-Cola by 7.1% in the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock valued at $6,397,000 after buying an additional 6,793 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company's stock worth $1,132,000 after buying an additional 8,499 shares during the last quarter. Clark & Stuart Inc acquired a new stake in Coca-Cola during the fourth quarter worth approximately $1,582,000. Wilmington Savings Fund Society FSB boosted its stake in Coca-Cola by 222.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company's stock valued at $13,814,000 after purchasing an additional 132,701 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Coca-Cola by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 893,192 shares of the company's stock valued at $55,610,000 after acquiring an additional 8,810 shares during the period. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the business's 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 legal filing with the SEC, which is available through this link. Also, CEO James Quincey sold 145,435 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,423 shares of company stock worth $22,263,071. Insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KO. Piper Sandler increased their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Royal Bank of Canada reiterated an "outperform" rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. TD Cowen raised 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. Finally, UBS Group boosted their price target on shares of Coca-Cola from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $75.06.

Coca-Cola Stock Down 0.8 %

KO stock opened at $73.32 on Thursday. The stock's 50 day simple moving average is $70.65 and its 200 day simple moving average is $66.47. The company has a market cap of $315.52 billion, a P/E ratio of 29.68, 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 quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a fifty-two week low of $59.84 and a fifty-two week high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 EPS 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 announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio is currently 82.59%.

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.

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