Rathbones Group PLC Increases Stake in The Coca-Cola Company (NYSE:KO)

Rathbones Group PLC raised its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,605,600 shares of the company's stock after buying an additional 164,503 shares during the quarter. Coca-Cola makes up approximately 1.7% of Rathbones Group PLC's investment portfolio, making the stock its 12th largest position. Rathbones Group PLC owned about 0.13% of Coca-Cola worth $349,005,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rice Partnership LLC grew its position in Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company's stock worth $6,397,000 after acquiring an additional 6,793 shares during the period. Fiduciary Alliance LLC grew its holdings 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 purchasing an additional 8,499 shares during the period. Clark & Stuart Inc acquired a new stake in shares of Coca-Cola during the 4th quarter worth about $1,582,000. Wilmington Savings Fund Society FSB raised its holdings 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 buying an additional 132,701 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in 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 buying an additional 8,810 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of equities research analysts have weighed in on KO shares. 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 research report on Friday, February 28th. UBS Group boosted their target price on Coca-Cola from $72.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Evercore ISI raised their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, DZ Bank upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.24.

Coca-Cola Stock Up 1.4 %

Coca-Cola stock traded up $1.00 during mid-day trading on Thursday, hitting $70.95. The company had a trading volume of 11,287,517 shares, compared to its average volume of 15,241,377. The business has a fifty day moving average of $69.27 and a 200 day moving average of $66.36. 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. The stock has a market cap of $305.35 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 3.79 and a beta of 0.45.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings data 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%. On average, sell-side 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. Shareholders of record on Friday, March 14th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.88%. This is a boost from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's payout ratio is currently 82.59%.

Insider Activity

In other news, EVP Lisa Chang sold 13,445 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 94,676 shares in the company, valued at approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 145,435 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is currently owned by company insiders.

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.