HBK Sorce Advisory LLC Sells 2,116 Shares of The Coca-Cola Company (NYSE:KO)

HBK Sorce Advisory LLC trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,354 shares of the company’s stock after selling 2,116 shares during the period. HBK Sorce Advisory LLC’s holdings in Coca-Cola were worth $4,443,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in Coca-Cola in the 4th quarter worth about $31,000. MidAtlantic Capital Management Inc. bought a new position in Coca-Cola in the 3rd quarter worth about $43,000. Retirement Wealth Solutions LLC bought a new position in Coca-Cola in the 4th quarter worth about $37,000. MilWealth Group LLC bought a new position in Coca-Cola in the 4th quarter worth about $40,000. Finally, Hara Capital LLC grew its stake in 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 acquiring an additional 210 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors.

Insider Activity at Coca-Cola

In related 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 transaction of $1,344,732.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,146 shares of company stock worth $20,456,524. 0.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on KO. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 8th. Piper Sandler increased their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. DZ Bank upgraded 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 note on Thursday, February 13th. Finally, Evercore ISI increased their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Trading Down 1.5 %

NYSE KO opened at $69.95 on Thursday. The stock has a market cap of $300.83 billion, a P/E ratio of 28.32, a P/E/G 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 fifty day simple moving average of $65.87 and a two-hundred day simple moving average of $66.61. 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) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts forecast 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. Investors of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.92%. The ex-dividend date 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%.

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.