Horizon Investments LLC Raises Position in The Coca-Cola Company (NYSE:KO)

Horizon Investments LLC raised its position in The Coca-Cola Company (NYSE:KO) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 94,008 shares of the company’s stock after buying an additional 1,347 shares during the period. Horizon Investments LLC’s holdings in Coca-Cola were worth $5,853,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rice Partnership LLC lifted its stake in shares of 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 buying an additional 6,793 shares in the last quarter. Fiduciary Alliance LLC raised its holdings in Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after acquiring an additional 8,499 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock worth $2,271,885,000 after purchasing an additional 4,013,996 shares during the last quarter. OneAscent Wealth Management LLC acquired a new position in shares of Coca-Cola during the 3rd quarter worth approximately $738,000. Finally, Richard C. Young & CO. LTD. grew its position in shares of Coca-Cola by 9.0% in the third quarter. Richard C. Young & CO. LTD. now owns 158,900 shares of the company’s stock valued at $11,419,000 after purchasing an additional 13,110 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of KO stock opened at $70.15 on Tuesday. 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 of $66.37 and a two-hundred day moving average of $66.53. 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 capitalization of $301.70 billion, a PE ratio of 28.40, a P/E/G ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, research analysts predict that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 82.59%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler lifted their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Morgan Stanley lifted their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, DZ Bank 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 research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and an average target price of $74.24.

Insider Activity at Coca-Cola

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 document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction on 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 directly 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. Insiders have sold a total of 313,423 shares of company stock valued at $22,263,071 over the last 90 days. 0.97% of the stock is owned by corporate 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.