The Coca-Cola Company (NYSE:KO) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. decreased its holdings in The Coca-Cola Company (NYSE:KO - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 891,060 shares of the company's stock after selling 52,964 shares during the period. Corebridge Financial Inc.'s holdings in Coca-Cola were worth $55,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Crowley Wealth Management Inc. bought a new stake in Coca-Cola during the 4th quarter valued at $27,000. Mainstream Capital Management LLC purchased a new stake in Coca-Cola in the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola during the 4th quarter worth about $37,000. MilWealth Group LLC purchased a new position in Coca-Cola during the 4th quarter valued at about $40,000. Finally, Hara Capital LLC lifted its position in shares of Coca-Cola by 43.7% in the 4th quarter. Hara Capital LLC now owns 691 shares of the company's stock worth $43,000 after purchasing an additional 210 shares during the period. Institutional investors own 70.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on KO shares. Piper Sandler upped 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 issued a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Barclays increased their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased 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 analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coca-Cola currently 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 KO stock traded up $0.78 during trading hours on Thursday, hitting $70.80. The company's stock had a trading volume of 11,657,614 shares, compared to its average volume of 14,063,476. The stock has a market cap of $304.70 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a 50 day moving average of $67.62 and a 200 day moving average of $66.46. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating 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, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.88%. 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 is currently 82.59%.

Insider Transactions at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares of the company's stock, valued at approximately $6,769,334. This represents a 12.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the firm'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 directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock valued at $22,263,071 in the last 90 days. 0.97% of the stock is currently owned by company insiders.

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.