PDS Planning Inc Sells 1,405 Shares of The Coca-Cola Company (NYSE:KO)

PDS Planning Inc reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,048 shares of the company’s stock after selling 1,405 shares during the period. PDS Planning Inc’s holdings in Coca-Cola were worth $3,614,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $37,000. MilWealth Group LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $40,000. MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola in the third quarter worth about $43,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Coca-Cola in the fourth quarter worth about $43,000. 70.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on KO shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Coca-Cola in a research note 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 for the company in a research note on Tuesday, January 28th. Piper Sandler boosted their target price on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Finally, Morgan Stanley boosted their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Two investment 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 stock. According to MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Stock Performance

Shares of KO stock opened at $70.15 on Tuesday. The company’s fifty day simple moving average is $66.37 and its 200-day simple moving average is $66.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The firm has a market cap of $301.70 billion, a PE ratio of 28.40, a P/E/G 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.

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

Coca-Cola Increases Dividend

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

Insider Activity

In related news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock valued at $22,263,071 over the last ninety days. 0.97% of the stock is currently owned by company insiders.

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.