Angeles Investment Advisors LLC Sells 1,162 Shares of The Coca-Cola Company (NYSE:KO)

Angeles Investment Advisors LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,873 shares of the company’s stock after selling 1,162 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Coca-Cola were worth $1,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fort Sheridan Advisors LLC boosted its position in shares of Coca-Cola by 3.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company’s stock valued at $311,000 after buying an additional 161 shares during the last quarter. Wells Trecaso Financial Group LLC boosted its position in Coca-Cola by 4.8% in the fourth quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company’s stock worth $225,000 after purchasing an additional 164 shares during the last quarter. Atlas Brown Inc. boosted its position in Coca-Cola by 0.8% in the fourth quarter. Atlas Brown Inc. now owns 21,024 shares of the company’s stock worth $1,309,000 after purchasing an additional 166 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in Coca-Cola by 0.4% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 39,198 shares of the company’s stock worth $2,440,000 after purchasing an additional 169 shares during the last quarter. Finally, Great Diamond Partners LLC lifted its position in shares of Coca-Cola by 1.7% during the 4th quarter. Great Diamond Partners LLC now owns 10,314 shares of the company’s stock valued at $642,000 after buying an additional 169 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Morgan Stanley upped their price target on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Wells Fargo & Company boosted their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler boosted their price objective on Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Insider Activity at Coca-Cola

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the sale, the insider now owns 246,909 shares of the company’s stock, valued at approximately $17,520,662.64. This trade represents a 18.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola 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 disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Stock Down 1.6 %

Shares of NYSE:KO opened at $68.58 on Monday. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The firm has a market capitalization of $295.12 billion, a P/E ratio of 27.76, a P/E/G ratio of 3.79 and a beta of 0.57. The stock has a 50 day moving average price of $67.00 and a 200-day moving average price of $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 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%. As a group, equities research analysts anticipate 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. Investors 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 yield of 2.97%. The ex-dividend date is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

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.