The Coca-Cola Company (NYSE:KO) Stock Holdings Decreased by Western Wealth Management LLC

Western Wealth Management LLC cut its stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) by 68.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,069 shares of the company's stock after selling 45,016 shares during the period. Western Wealth Management LLC's holdings in Coca-Cola were worth $1,312,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KO. Norges Bank acquired a new position in Coca-Cola in the 4th quarter valued at approximately $3,402,151,000. Capital International Investors increased its stake in Coca-Cola by 96.0% in the 4th quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after buying an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after buying an additional 11,569,920 shares during the period. Raymond James Financial Inc. acquired a new position in Coca-Cola in the 4th quarter valued at approximately $500,192,000. Finally, Franklin Resources Inc. increased its stake in Coca-Cola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock valued at $2,123,301,000 after buying an additional 6,118,819 shares during the period. Institutional investors and hedge funds own 70.26% of the company's stock.

Analysts Set New Price Targets

KO has been the subject of several recent research reports. DZ Bank raised shares of Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research report on Thursday, February 13th. 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 report 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 report on Thursday, January 30th. Royal Bank of Canada boosted their target price on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Coca-Cola from $74.00 to $78.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $75.81.

Coca-Cola Price Performance

NYSE:KO opened at $71.13 on Friday. The stock has a market cap of $306.16 billion, a P/E ratio of 28.80, a PEG ratio of 3.79 and a beta of 0.47. The Coca-Cola Company has a one year low of $60.62 and a one year high of $74.38. The company has a fifty day moving average price of $71.04 and a 200 day moving average price of $66.93. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84.

Coca-Cola (NYSE:KO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. The company had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter last year, the firm earned $0.72 EPS. Coca-Cola's revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, June 13th. Coca-Cola's dividend payout ratio is 81.60%.

Insider Activity

In other Coca-Cola news, insider Nikolaos Koumettis sold 54,708 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the sale, the insider now owns 246,909 shares of the company's stock, valued at $17,520,662.64. This represents a 18.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 462,407 shares of company stock worth $32,990,056. 0.90% of the stock is currently owned by corporate 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.

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