The Coca-Cola Company (NYSE:KO) Stake Boosted by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC raised its position in The Coca-Cola Company (NYSE:KO - Free Report) by 44,783.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,275 shares of the company's stock after purchasing an additional 220,782 shares during the period. Coca-Cola comprises about 0.6% of New Age Alpha Advisors LLC's investment portfolio, making the stock its 26th largest position. New Age Alpha Advisors LLC's holdings in Coca-Cola were worth $13,777,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company's stock worth $6,664,005,000 after buying an additional 2,966,964 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after buying an additional 11,569,920 shares during the period. Norges Bank acquired a new position in shares of Coca-Cola during the 4th quarter valued at about $3,402,151,000. Wellington Management Group LLP lifted its holdings in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company's stock worth $2,271,885,000 after acquiring an additional 4,013,996 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Coca-Cola by 6.1% in the third quarter. Franklin Resources Inc. now owns 27,984,953 shares of the company's stock worth $1,990,407,000 after acquiring an additional 1,609,565 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a "hold" rating to a "buy" rating and lifted their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Wells Fargo & Company boosted their price target on Coca-Cola from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. UBS Group lifted their price objective on Coca-Cola from $72.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $74.24.

Insider Buying and Selling

In other news, insider Bruno Pietracci sold 19,058 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nikolaos Koumettis sold 54,708 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the transaction, the insider now directly owns 246,909 shares of the company's stock, valued at $17,520,662.64. This represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock valued at $22,263,071 over the last quarter. Corporate insiders own 0.97% of the company's stock.

Coca-Cola Stock Performance

Shares of KO traded up $1.20 during mid-day trading on Monday, reaching $71.57. 7,183,773 shares of the company's stock traded hands, compared to its average volume of 17,919,270. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The stock has a market capitalization of $308.01 billion, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The business's 50-day moving average price is $67.77 and its 200-day moving average price is $66.38. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's dividend payout ratio (DPR) is currently 82.59%.

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.