Courier Capital LLC Sells 461 Shares of The Coca-Cola Company (NYSE:KO)

Courier Capital LLC decreased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,065 shares of the company’s stock after selling 461 shares during the quarter. Courier Capital LLC’s holdings in Coca-Cola were worth $1,374,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Quarry LP bought a new position in Coca-Cola in the 2nd quarter valued at $27,000. Hara Capital LLC bought a new position in shares of Coca-Cola in the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the 3rd quarter worth about $36,000. MidAtlantic Capital Management Inc. bought a new stake in Coca-Cola during the 3rd quarter valued at about $43,000. Finally, ORG Wealth Partners LLC bought a new stake in Coca-Cola during the 3rd quarter valued at about $58,000. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Trading Up 1.0 %

NYSE:KO opened at $61.68 on Tuesday. The firm has a 50 day moving average of $62.84 and a 200 day moving average of $66.48. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.53. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The stock has a market capitalization of $265.70 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.83 and a beta of 0.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, beating 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 analyst estimates of $11.61 billion. During the same quarter in the prior year, the business posted $0.74 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.485 per share. 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 3.15%. Coca-Cola’s payout ratio is 80.17%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KO shares. Wells Fargo & Company reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Truist Financial raised their price objective on Coca-Cola from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley dropped their price target on Coca-Cola from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Finally, Hsbc Global Res upgraded shares of Coca-Cola to a “strong-buy” rating in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.60.

Insider Activity

In related news, CEO James Quincey sold 100,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $64.03, for a total value of $6,403,000.00. Following the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $21,933,220.38. This represents a 22.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.