The Coca-Cola Company (NYSE:KO) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its holdings in The Coca-Cola Company (NYSE:KO) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 452,582 shares of the company’s stock after purchasing an additional 13,084 shares during the quarter. Coca-Cola comprises approximately 0.5% of Advisors Asset Management Inc.’s portfolio, making the stock its 22nd biggest position. Advisors Asset Management Inc.’s holdings in Coca-Cola were worth $28,178,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KO. Mainstream Capital Management LLC acquired a new position in Coca-Cola in the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $37,000. MilWealth Group LLC purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $40,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola in the third quarter valued at approximately $43,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Coca-Cola in the fourth quarter valued at approximately $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Stock Up 1.4 %

Coca-Cola stock opened at $70.15 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a market capitalization of $301.70 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a fifty-two week low of $57.93 and a fifty-two week high of $73.53. The stock’s fifty day moving average is $66.37 and its two-hundred day moving average is $66.53.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating 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%. 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. Shareholders of record on Friday, March 14th will be issued a $0.51 dividend. 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. This represents a $2.04 annualized dividend and a yield of 2.91%. Coca-Cola’s dividend payout ratio is 82.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KO. Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 8th. Morgan Stanley boosted their price objective on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.24.

Insider Buying and Selling at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now owns 52,466 shares of the company’s stock, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,423 shares of company stock valued at $22,263,071. 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.