CWA Asset Management Group LLC Has $1.21 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

CWA Asset Management Group LLC lifted its stake in The Coca-Cola Company (NYSE:KO) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,407 shares of the company’s stock after acquiring an additional 2,706 shares during the quarter. CWA Asset Management Group LLC’s holdings in Coca-Cola were worth $1,208,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

KO has been the topic of a number of recent analyst reports. Piper Sandler assumed coverage on Coca-Cola in a research report on Tuesday. They set an “overweight” rating and a $74.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Truist Financial upped their price objective on shares of Coca-Cola from $70.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company cut their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Hsbc Global Res raised shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.27.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 100,000 shares of the business’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 of the company’s stock, valued at approximately $21,933,220.38. The trade was a 22.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $60.70 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $261.48 billion, a PE ratio of 25.08, a PEG ratio of 3.83 and a beta of 0.61. The firm has a 50 day moving average of $63.15 and a 200-day moving average of $66.55. The Coca-Cola Company has a 12 month low of $57.93 and a 12 month high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Coca-Cola had a return on equity of 44.01% and a net margin of 22.45%. The firm had revenue of $11.85 billion during the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, equities research analysts predict that The Coca-Cola Company will post 2.85 EPS for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.485 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.20%. Coca-Cola’s dividend payout ratio (DPR) is currently 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.