DoubleLine ETF Adviser LP Has $5.76 Million Holdings in The Coca-Cola Company (NYSE:KO)

DoubleLine ETF Adviser LP decreased its position in The Coca-Cola Company (NYSE:KO - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,579 shares of the company's stock after selling 27,035 shares during the quarter. Coca-Cola comprises approximately 1.6% of DoubleLine ETF Adviser LP's holdings, making the stock its 13th largest position. DoubleLine ETF Adviser LP's holdings in Coca-Cola were worth $5,764,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of KO. Peachtree Investment Partners LLC boosted its stake in shares of Coca-Cola by 1.4% during the 4th quarter. Peachtree Investment Partners LLC now owns 11,189 shares of the company's stock worth $697,000 after acquiring an additional 157 shares in the last quarter. Fort Sheridan Advisors LLC raised its holdings in Coca-Cola by 3.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 4,993 shares of the company's stock worth $311,000 after buying an additional 161 shares during the period. Excalibur Management Corp boosted its holdings in shares of Coca-Cola by 0.6% in the fourth quarter. Excalibur Management Corp now owns 29,412 shares of the company's stock worth $1,831,000 after buying an additional 161 shares during the period. Wells Trecaso Financial Group LLC lifted its position in shares of Coca-Cola by 4.8% in the 4th quarter. Wells Trecaso Financial Group LLC now owns 3,616 shares of the company's stock valued at $225,000 after acquiring an additional 164 shares in the last quarter. Finally, Atlas Brown Inc. grew its position in Coca-Cola by 0.8% during the 4th quarter. Atlas Brown Inc. now owns 21,024 shares of the company's stock worth $1,309,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 70.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on KO shares. 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. Piper Sandler boosted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Cfra Research raised shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $74.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Finally, Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $75.59.

Coca-Cola Stock Performance

NYSE:KO traded up $0.40 during midday trading on Friday, reaching $71.69. The stock had a trading volume of 12,626,934 shares, compared to its average volume of 15,442,534. The stock has a market capitalization of $308.52 billion, a P/E ratio of 29.02, a PEG ratio of 3.79 and a beta of 0.45. The Coca-Cola Company has a 1-year low of $60.62 and a 1-year high of $74.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.03 and a quick ratio of 0.84. The firm's fifty day simple moving average is $70.90 and its 200-day simple moving average is $66.56.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $11.23 billion. During the same period last year, the business posted $0.72 earnings per share. The firm's revenue was down .7% compared to the same quarter last year. On average, equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Announces Dividend

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 given a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. Coca-Cola's dividend payout ratio is 81.60%.

Insider Transactions at Coca-Cola

In related news, EVP Lisa Chang sold 13,445 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the transaction, the executive vice president now directly owns 94,676 shares in the company, valued at $6,769,334. The trade was a 12.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bruno Pietracci sold 19,058 shares of the firm's stock in a transaction that occurred 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. Over the last quarter, insiders have sold 313,423 shares of company stock worth $22,263,071. Insiders own 0.97% of the company's stock.

Coca-Cola 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.