Nelson Capital Management LLC Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Nelson Capital Management LLC cut its stake in The Coca-Cola Company (NYSE:KO) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,919 shares of the company’s stock after selling 735 shares during the period. Nelson Capital Management LLC’s holdings in Coca-Cola were worth $2,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. National Pension Service increased its position in Coca-Cola by 13.5% during the fourth quarter. National Pension Service now owns 8,644,921 shares of the company’s stock worth $538,233,000 after purchasing an additional 1,027,823 shares during the last quarter. Advisor OS LLC grew its stake in shares of Coca-Cola by 6.8% in the 4th quarter. Advisor OS LLC now owns 33,780 shares of the company’s stock valued at $2,103,000 after buying an additional 2,142 shares during the period. Lake Street Advisors Group LLC increased its holdings in shares of Coca-Cola by 6.9% during the 4th quarter. Lake Street Advisors Group LLC now owns 29,991 shares of the company’s stock worth $1,867,000 after buying an additional 1,946 shares during the last quarter. Kirtland Hills Capital Management LLC raised its position in Coca-Cola by 9.2% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 4,563 shares of the company’s stock valued at $284,000 after purchasing an additional 384 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Coca-Cola in the 4th quarter valued at $630,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Up 1.3 %

KO stock opened at $71.54 on Wednesday. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The company has a market cap of $308.16 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The company has a fifty day moving average price of $64.03 and a 200 day moving average price of $66.44.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share 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 $0.51 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. Coca-Cola’s payout ratio is 78.54%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. UBS Group boosted their price target on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Wednesday, January 8th. Finally, Morgan Stanley raised their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.82.

Insiders Place Their Bets

In other news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.97% of the stock is currently owned by company insiders.

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.