Dudley Capital Management LLC Has $2.50 Million Position in The Coca-Cola Company (NYSE:KO)

Dudley Capital Management LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 2.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 40,081 shares of the company’s stock after selling 971 shares during the period. Coca-Cola makes up about 1.3% of Dudley Capital Management LLC’s holdings, making the stock its 23rd largest holding. Dudley Capital Management LLC’s holdings in Coca-Cola were worth $2,495,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Rice Partnership LLC raised its position in Coca-Cola by 7.1% during 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 in the last quarter. Fiduciary Alliance LLC increased its stake in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after purchasing an additional 8,499 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after purchasing an additional 4,013,996 shares during the period. Clark & Stuart Inc acquired a new stake in Coca-Cola in the 4th quarter valued at about $1,582,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in Coca-Cola by 222.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock worth $13,814,000 after purchasing an additional 132,701 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on KO shares. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Morgan Stanley lifted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Piper Sandler increased 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. Finally, Wells Fargo & Company lifted their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $74.24.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 owns 52,466 shares in the company, valued at $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lisa Chang sold 13,445 shares of the company’s stock in a transaction on 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 owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,423 shares of company stock worth $22,263,071 over the last 90 days. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $68.97 on Tuesday. 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 $296.81 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company has a 50 day moving average of $67.15 and a 200-day moving average of $66.42. The Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share 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%. As a group, equities research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.51 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 2.96%. Coca-Cola’s dividend payout ratio (DPR) is 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.