Mutual of America Capital Management LLC Sells 13,205 Shares of The Coca-Cola Company (NYSE:KO)

Mutual of America Capital Management LLC lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 463,797 shares of the company’s stock after selling 13,205 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Coca-Cola were worth $28,876,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Hara Capital LLC acquired a new stake in Coca-Cola during the 3rd quarter worth $35,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the 4th quarter worth $37,000. MilWealth Group LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $40,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola during the third quarter worth $43,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Coca-Cola in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In other news, insider Bruno Pietracci sold 19,058 shares of the firm’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 value of $1,344,732.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 232,646 shares of company stock valued at $16,515,469. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KO has been the subject of several analyst reports. Piper Sandler boosted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday. 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. Evercore ISI upped their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Stock Performance

Shares of KO opened at $71.20 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53. The firm has a fifty day simple moving average of $64.53 and a 200 day simple moving average of $66.53. The stock has a market capitalization of $306.22 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data 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%. Research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is presently 82.59%.

Coca-Cola Company 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.