Rowlandmiller & PARTNERS.ADV Reduces Holdings in The Coca-Cola Company (NYSE:KO)

Rowlandmiller & PARTNERS.ADV reduced its stake in The Coca-Cola Company (NYSE:KO) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,151 shares of the company’s stock after selling 2,526 shares during the period. Coca-Cola accounts for 2.8% of Rowlandmiller & PARTNERS.ADV’s holdings, making the stock its 8th biggest holding. Rowlandmiller & PARTNERS.ADV’s holdings in Coca-Cola were worth $13,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Hara Capital LLC bought a new position in Coca-Cola in the third quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Coca-Cola during the 3rd quarter worth $36,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola during the 4th quarter worth $37,000. MilWealth Group LLC bought a new position in shares of Coca-Cola during the 4th quarter worth $40,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Coca-Cola during the 3rd quarter worth $43,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Stock Up 1.9 %

KO opened at $71.37 on Monday. The company has a market cap of $307.46 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a 50-day moving average price of $63.71 and a 200 day moving average price of $66.41. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Sell-side analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 78.54%.

Wall Street Analyst Weigh In

KO has been the topic of several recent research reports. Piper Sandler dropped their target price on shares of Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Wednesday, January 8th. Finally, DZ Bank raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Thursday, February 13th. 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

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.