Courier Capital LLC Reduces Stake in The Coca-Cola Company (NYSE:KO)

Courier Capital LLC lessened its position in shares of The Coca-Cola Company (NYSE:KO) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,065 shares of the company’s stock after selling 461 shares during the quarter. Courier Capital LLC’s holdings in Coca-Cola were worth $1,374,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of KO. Harvest Portfolios Group Inc. purchased a new stake in shares of Coca-Cola during the 3rd quarter valued at about $18,383,000. Balentine LLC increased its holdings in Coca-Cola by 92.4% during the third quarter. Balentine LLC now owns 28,493 shares of the company’s stock valued at $2,048,000 after buying an additional 13,685 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its position in Coca-Cola by 104.9% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after acquiring an additional 59,503 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after acquiring an additional 46,541 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Coca-Cola by 4.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after acquiring an additional 21,005 shares during the period. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Trading Up 1.0 %

Shares of Coca-Cola stock opened at $61.68 on Tuesday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The business has a 50-day moving average price of $62.84 and a 200-day moving average price of $66.48. The firm has a market cap of $265.70 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $11.85 billion for the quarter, compared to the consensus estimate of $11.61 billion. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. Equities research analysts anticipate that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.485 per share. The ex-dividend date was Friday, November 29th. This represents a $1.94 annualized dividend and a yield of 3.15%. Coca-Cola’s dividend payout ratio (DPR) is currently 80.17%.

Analyst Upgrades and Downgrades

KO has been the topic of several analyst reports. Barclays lowered their target price on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Wells Fargo & Company lowered their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler began coverage on shares of Coca-Cola in a report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 target price for the company. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus target price of $72.60.

Insiders Place Their Bets

In other news, CEO James Quincey sold 100,000 shares of Coca-Cola stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company’s stock.

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.