Signet Financial Management LLC Reduces Stock Position in The Coca-Cola Company (NYSE:KO)

Signet Financial Management LLC trimmed its stake in shares of The Coca-Cola Company (NYSE:KO) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,852 shares of the company’s stock after selling 223 shares during the period. Signet Financial Management LLC’s holdings in Coca-Cola were worth $3,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Coca-Cola during the 2nd quarter valued at about $27,000. Hara Capital LLC purchased a new position in shares of Coca-Cola in the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Coca-Cola during the third quarter valued at approximately $36,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola during the third quarter valued at approximately $43,000. Finally, ORG Wealth Partners LLC bought a new position in Coca-Cola in the third quarter worth approximately $58,000. Institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $61.68 on Tuesday. The company has a market cap of $265.70 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.83 and a beta of 0.61. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.90 and a current ratio of 1.06. The firm’s fifty day moving average is $62.84 and its two-hundred day moving average is $66.48.

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

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.15%. Coca-Cola’s dividend payout ratio is currently 80.17%.

Insider Activity at Coca-Cola

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $64.03, for a total transaction 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 $21,933,220.38. This trade represents a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays reduced their price objective on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Piper Sandler began coverage on Coca-Cola in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $74.00 price target for the company. Truist Financial lifted their price objective on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Morgan Stanley lowered their price target on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $72.60.

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.