Eight 31 Financial LLC Has $301,000 Stock Position in The Coca-Cola Company (NYSE:KO)

Eight 31 Financial LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 3.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,827 shares of the company’s stock after selling 185 shares during the quarter. Eight 31 Financial LLC’s holdings in Coca-Cola were worth $301,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Howard Capital Management Group LLC boosted its position in Coca-Cola by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock worth $28,716,000 after acquiring an additional 2,069 shares during the last quarter. Morse Asset Management Inc boosted its holdings in Coca-Cola by 25.0% during the third quarter. Morse Asset Management Inc now owns 17,500 shares of the company’s stock worth $1,258,000 after purchasing an additional 3,500 shares during the last quarter. Bard Financial Services Inc. grew its position in Coca-Cola by 0.4% in the third quarter. Bard Financial Services Inc. now owns 182,521 shares of the company’s stock valued at $13,116,000 after purchasing an additional 680 shares in the last quarter. Aldebaran Financial Inc. increased its stake in Coca-Cola by 21.4% in the 3rd quarter. Aldebaran Financial Inc. now owns 11,711 shares of the company’s stock valued at $842,000 after buying an additional 2,065 shares during the last quarter. Finally, Wealthquest Corp bought a new stake in Coca-Cola during the 3rd quarter worth about $412,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on KO shares. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI boosted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Piper Sandler boosted their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a report on Thursday, February 6th. Finally, UBS Group boosted their price objective on Coca-Cola from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $75.06.

Coca-Cola Trading Down 0.8 %

Shares of KO stock opened at $71.96 on Friday. The Coca-Cola Company has a fifty-two week low of $60.62 and a fifty-two week high of $74.38. The stock’s fifty day moving average price is $70.78 and its two-hundred day moving average price is $66.52. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The company has a market cap of $309.68 billion, a PE ratio of 29.13, a P/E/G ratio of 3.79 and a beta of 0.45.

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

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. Coca-Cola’s dividend payout ratio is 82.59%.

Insiders Place Their Bets

In related news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at $3,749,745.02. This represents a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction 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 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.