The Coca-Cola Company (NYSE:KO) Position Trimmed by Prudential Financial Inc.

Prudential Financial Inc. lessened its stake in The Coca-Cola Company (NYSE:KO) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,205,013 shares of the company’s stock after selling 278,003 shares during the quarter. Prudential Financial Inc.’s holdings in Coca-Cola were worth $261,804,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KO. Crowley Wealth Management Inc. acquired a new position in shares of Coca-Cola in the fourth quarter worth $27,000. Mainstream Capital Management LLC purchased a new stake in shares of Coca-Cola during the 4th quarter worth about $31,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola during the 4th quarter valued at about $37,000. MilWealth Group LLC bought a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $40,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Coca-Cola in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. This represents a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 over the last 90 days. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of Coca-Cola stock opened at $68.58 on Monday. The firm’s 50-day moving average price is $67.00 and its two-hundred day moving average price is $66.43. 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 1-year low of $57.93 and a 1-year high of $73.53. The stock has a market capitalization of $295.12 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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, equities analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a yield of 2.97%. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KO. Piper Sandler raised their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their price target on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Barclays raised their price target on Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

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.