United Services Automobile Association Has $5.61 Million Holdings in The Coca-Cola Company (NYSE:KO)

United Services Automobile Association decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 74.0% during the 4th quarter, HoldingsChannel reports. The fund owned 90,120 shares of the company’s stock after selling 255,887 shares during the period. United Services Automobile Association’s holdings in Coca-Cola were worth $5,611,000 at the end of the most recent reporting period.

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

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $68.58 on Monday. The business has a 50-day simple moving average of $67.00 and a 200 day simple moving average of $66.43. The Coca-Cola Company has a one year low of $57.93 and a one year 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 firm has a market capitalization of $295.12 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS 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%. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.97%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Wall Street Analysts Forecast Growth

KO has been the topic of several analyst reports. UBS Group boosted their price objective 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. DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Piper Sandler upped their target price on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Finally, Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Two equities research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Insider Transactions at Coca-Cola

In related news, COO Henrique Braun sold 25,277 shares of Coca-Cola stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares of the company’s stock, valued at $3,749,745.02. The trade was a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were 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 sold a total of 313,423 shares of company stock valued at $22,263,071 over the last three months. Corporate insiders own 0.97% of the company’s stock.

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.