The Coca-Cola Company (NYSE:KO) Shares Sold by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,904 shares of the company’s stock after selling 3,549 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Coca-Cola were worth $1,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new stake in Coca-Cola in the third quarter valued at approximately $35,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola in the third quarter valued at $43,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter valued at $37,000. MilWealth Group LLC purchased a new stake in Coca-Cola during the 4th quarter worth $40,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Coca-Cola in the 4th quarter worth $43,000. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coca-Cola

In other news, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the completion of the transaction, the insider now directly owns 246,909 shares in the company, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 232,646 shares of company stock worth $16,515,469. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE KO opened at $71.20 on Monday. The stock has a market capitalization of $306.22 billion, a P/E ratio of 28.82, a P/E/G ratio of 3.79 and a beta of 0.61. The firm’s 50-day moving average price is $64.53 and its two-hundred day moving average price is $66.50. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

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%. As a group, sell-side 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. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. This is an increase 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 dividend yield of 2.87%. Coca-Cola’s payout ratio is 82.59%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KO. Piper Sandler raised their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. DZ Bank raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Thursday, February 13th. Finally, Barclays upped their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $74.24.

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.