Asset Advisors Investment Management LLC Has $15.31 Million Stock Position in The Coca-Cola Company (NYSE:KO)

Asset Advisors Investment Management LLC trimmed its stake in The Coca-Cola Company (NYSE:KO) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 245,946 shares of the company’s stock after selling 1,558 shares during the quarter. Coca-Cola comprises about 1.6% of Asset Advisors Investment Management LLC’s holdings, making the stock its 21st biggest position. Asset Advisors Investment Management LLC’s holdings in Coca-Cola were worth $15,313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Hara Capital LLC bought a new stake in Coca-Cola during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Coca-Cola in the third quarter worth about $36,000. Retirement Wealth Solutions LLC bought a new stake in Coca-Cola during the 4th quarter valued at $37,000. MilWealth Group LLC bought a new position in Coca-Cola in the 4th quarter worth about $40,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Coca-Cola during the third quarter valued at approximately $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Stock Performance

KO opened at $71.37 on Monday. 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 Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a market cap of $307.46 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 3.79 and a beta of 0.61. The firm’s fifty day simple moving average is $63.71 and its two-hundred day simple moving average is $66.41.

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

Coca-Cola Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 represents a $2.04 dividend on an annualized basis and a yield of 2.86%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is presently 78.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KO shares. Wells Fargo & Company raised their price target on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, January 8th. Morgan Stanley upped their target price on Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Barclays increased their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.82.

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.