The Coca-Cola Company (NYSE:KO) Shares Sold by Transcendent Capital Group LLC

Transcendent Capital Group LLC reduced its holdings in The Coca-Cola Company (NYSE:KO) by 81.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,336 shares of the company’s stock after selling 10,558 shares during the period. Transcendent Capital Group LLC’s holdings in Coca-Cola were worth $145,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in KO. Howard Capital Management Group LLC increased its holdings in shares of Coca-Cola by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after purchasing an additional 2,069 shares during the last quarter. NorthCrest Asset Manangement LLC increased its stake in shares of Coca-Cola by 14.3% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 13,613 shares of the company’s stock worth $978,000 after acquiring an additional 1,698 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Coca-Cola by 12.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 11,499 shares of the company’s stock worth $826,000 after acquiring an additional 1,229 shares during the period. Bristlecone Advisors LLC acquired a new position in shares of Coca-Cola during the 3rd quarter valued at about $224,000. Finally, Custom Index Systems LLC purchased a new stake in shares of Coca-Cola in the third quarter valued at about $204,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Stock Down 1.1 %

KO opened at $70.58 on Tuesday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. 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 stock has a market capitalization of $304.04 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The business’s 50-day simple moving average is $63.87 and its 200-day simple moving average is $66.42.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 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%. Analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid 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 2.89%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is currently 78.54%.

Wall Street Analysts Forecast Growth

KO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Evercore ISI increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler reduced their price objective on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price target for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.82.

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.