The Coca-Cola Company (NYSE:KO) Position Reduced by Simmons Bank

Simmons Bank reduced its position in The Coca-Cola Company (NYSE:KO) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 120,000 shares of the company’s stock after selling 2,783 shares during the quarter. Simmons Bank’s holdings in Coca-Cola were worth $7,471,000 at the end of the most recent quarter.

A number of 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 valued at $35,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Coca-Cola during the third quarter valued at $36,000. MidAtlantic Capital Management Inc. purchased a new stake in Coca-Cola in the 3rd quarter worth about $43,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter worth about $37,000. Finally, MilWealth Group LLC purchased a new position in Coca-Cola during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $71.54 on Wednesday. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The firm has a fifty day simple moving average of $64.03 and a 200-day simple moving average of $66.44. 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 stock has a market capitalization of $308.16 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 3.79 and a beta of 0.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (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%. On average, 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. Shareholders of record on Friday, March 14th will be given a $0.51 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s payout ratio is currently 78.54%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on KO shares. Evercore ISI increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler decreased 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. Wells Fargo & Company upped their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. UBS Group increased their price objective on Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Barclays boosted their target price on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.82.

Insider Transactions at Coca-Cola

In related news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction on Monday, February 24th. The shares were 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. Corporate insiders own 0.97% of the company’s stock.

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.