TrueMark Investments LLC Grows Holdings in The Coca-Cola Company (NYSE:KO)

TrueMark Investments LLC boosted its stake in The Coca-Cola Company (NYSE:KO - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,479 shares of the company's stock after purchasing an additional 5,624 shares during the quarter. Coca-Cola comprises approximately 1.3% of TrueMark Investments LLC's holdings, making the stock its 29th largest holding. TrueMark Investments LLC's holdings in Coca-Cola were worth $4,139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Fort Sheridan Advisors LLC grew its holdings in shares of Coca-Cola by 3.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock worth $311,000 after buying an additional 161 shares during the last quarter. Wells Trecaso Financial Group LLC grew its stake in shares of Coca-Cola by 4.8% in the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company's stock valued at $225,000 after purchasing an additional 164 shares during the last quarter. Atlas Brown Inc. grew its stake in shares of Coca-Cola by 0.8% in the 4th quarter. Atlas Brown Inc. now owns 21,024 shares of the company's stock valued at $1,309,000 after purchasing an additional 166 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Coca-Cola by 0.4% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,198 shares of the company's stock worth $2,440,000 after purchasing an additional 169 shares during the last quarter. Finally, Great Diamond Partners LLC lifted its stake in shares of Coca-Cola by 1.7% in the 4th quarter. Great Diamond Partners LLC now owns 10,314 shares of the company's stock worth $642,000 after acquiring an additional 169 shares during the period. Institutional investors own 70.26% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms recently weighed in on KO. Piper Sandler raised their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Coca-Cola from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $69.00 to $75.00 in a research report on Thursday, January 30th. Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coca-Cola from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Two 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, Coca-Cola currently has an average rating of "Moderate Buy" and an average target price of $74.24.

Coca-Cola Trading Down 0.5 %

KO traded down $0.38 during midday trading on Friday, hitting $70.36. The company's stock had a trading volume of 17,408,790 shares, compared to its average volume of 14,889,152. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The firm has a 50-day moving average price of $67.77 and a two-hundred day moving average price of $66.45. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The firm has a market cap of $302.80 billion, a P/E ratio of 28.49, a PEG ratio of 3.79 and a beta of 0.57.

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 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 anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola's previous quarterly dividend of $0.49. Coca-Cola's payout ratio is 82.59%.

Insiders Place Their Bets

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