TCTC Holdings LLC Grows Position in The Coca-Cola Company (NYSE:KO)

TCTC Holdings LLC increased its holdings in The Coca-Cola Company (NYSE:KO) by 0.6% in the fourth quarter, Holdings Channel reports. The fund owned 109,650 shares of the company’s stock after purchasing an additional 671 shares during the quarter. TCTC Holdings LLC’s holdings in Coca-Cola were worth $6,827,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Rice Partnership LLC lifted its stake in Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after acquiring an additional 6,793 shares during the period. Fiduciary Alliance LLC lifted its position in shares of Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after buying an additional 8,499 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Coca-Cola by 14.5% during the third quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. OneAscent Wealth Management LLC purchased a new stake in shares of Coca-Cola during the third quarter valued at about $738,000. Finally, Richard C. Young & CO. LTD. lifted its position in shares of Coca-Cola by 9.0% during the third quarter. Richard C. Young & CO. LTD. now owns 158,900 shares of the company’s stock valued at $11,419,000 after buying an additional 13,110 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the sale, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were 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. In the last 90 days, insiders have sold 313,423 shares of company stock worth $22,263,071. Corporate insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on KO shares. Barclays increased their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Morgan Stanley increased their price target on shares of Coca-Cola from $76.00 to $78.00 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 for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $70.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $69.16 on Monday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company’s 50 day moving average is $66.18 and its 200 day moving average is $66.54. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The company has a market cap of $297.47 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 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%. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed 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. This represents a $2.04 annualized dividend and a yield of 2.95%. 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 is currently 82.59%.

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.