The Coca-Cola Company (NYSE:KO) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 338,530 shares of the company’s stock after acquiring an additional 8,452 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Coca-Cola were worth $21,077,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KO. Piper Sandler increased their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Morgan Stanley increased their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI increased their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Barclays raised their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $70.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Insider Buying and Selling

In other news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nikolaos Koumettis sold 54,708 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the transaction, the insider now owns 246,909 shares in the company, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,646 shares of company stock worth $16,515,469 in the last quarter. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Trading Up 0.1 %

Shares of NYSE:KO opened at $71.47 on Tuesday. The firm has a fifty day moving average of $65.55 and a two-hundred day moving average of $66.57. The firm has a market capitalization of $307.39 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently announced 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 represents a $2.04 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

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.