Ipswich Investment Management Co. Inc. Trims Stock Position in The Coca-Cola Company (NYSE:KO)

Ipswich Investment Management Co. Inc. cut its position in shares of The Coca-Cola Company (NYSE:KO) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 43,518 shares of the company’s stock after selling 2,160 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Coca-Cola were worth $2,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KO. Hara Capital LLC acquired a new stake in Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Coca-Cola during the third quarter worth about $36,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $37,000. MilWealth Group LLC acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola in the third quarter valued at about $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of recent research reports. UBS Group increased their target price on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Wells Fargo & Company increased their target price on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI increased their target price on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley increased their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.82.

Coca-Cola Trading Up 1.9 %

NYSE:KO opened at $71.37 on Friday. 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 business’s 50 day moving average is $63.71 and its two-hundred day moving average is $66.44. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a market cap of $307.46 billion, a PE ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61.

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

Coca-Cola Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 78.54%.

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.