Ignite Planners LLC Has $761,000 Stake in The Coca-Cola Company (NYSE:KO)

Ignite Planners LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,321 shares of the company’s stock after selling 188 shares during the period. Ignite Planners LLC’s holdings in Coca-Cola were worth $761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of KO. Harvest Portfolios Group Inc. bought a new stake in shares of Coca-Cola in the third quarter worth about $18,383,000. Balentine LLC increased its stake in Coca-Cola by 92.4% during the 3rd quarter. Balentine LLC now owns 28,493 shares of the company’s stock worth $2,048,000 after purchasing an additional 13,685 shares in the last quarter. Sheaff Brock Investment Advisors LLC increased its stake in Coca-Cola by 104.9% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 116,214 shares of the company’s stock worth $8,351,000 after purchasing an additional 59,503 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Coca-Cola by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 850,802 shares of the company’s stock worth $61,122,000 after buying an additional 46,541 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in Coca-Cola by 4.8% in the third quarter. State of Alaska Department of Revenue now owns 457,782 shares of the company’s stock valued at $32,895,000 after buying an additional 21,005 shares in the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

KO has been the subject of several recent research reports. Morgan Stanley reduced their target price on shares of Coca-Cola from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company lowered their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $70.00 in a research note on Thursday, December 12th. Finally, Truist Financial boosted their price target on Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $72.60.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 100,000 shares of the firm’s 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 sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $21,933,220.38. This trade represents a 22.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO opened at $61.68 on Tuesday. The business’s fifty day moving average is $62.84 and its 200 day moving average is $66.48. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The stock 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.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The company 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 business posted $0.74 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. Sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

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

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.