Elo Mutual Pension Insurance Co Has $23.26 Million Stock Holdings in The Coca-Cola Company (NYSE:KO)

Elo Mutual Pension Insurance Co lowered its position in shares of The Coca-Cola Company (NYSE:KO) by 3.9% in the fourth quarter, HoldingsChannel reports. The fund owned 373,644 shares of the company’s stock after selling 15,308 shares during the period. Coca-Cola makes up 0.5% of Elo Mutual Pension Insurance Co’s portfolio, making the stock its 29th largest position. Elo Mutual Pension Insurance Co’s holdings in Coca-Cola were worth $23,263,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in KO. Crowley Wealth Management Inc. bought a new position in Coca-Cola in the fourth quarter valued at $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the 4th quarter valued at about $31,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola in the fourth quarter valued at about $38,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola during the fourth quarter worth about $37,000. Finally, MilWealth Group LLC acquired a new position in Coca-Cola during the fourth quarter valued at approximately $40,000. 70.26% of the stock is owned by institutional investors.

Coca-Cola Trading Up 1.8 %

KO stock opened at $70.02 on Thursday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a market capitalization of $301.32 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company’s 50-day simple moving average is $67.45 and its 200 day simple moving average is $66.43. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio is presently 82.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KO shares. Piper Sandler upped their price objective on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. UBS Group upped their price target on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research report on Thursday, February 6th. DZ Bank upgraded shares of 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. Finally, TD Cowen upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday, January 8th. Two 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Insider Transactions at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was 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 of the company’s stock, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,423 shares of company stock valued at $22,263,071. 0.97% of the stock is owned by corporate insiders.

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.