The Coca-Cola Company (NYSE:KO) Shares Bought by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lifted its position in shares of The Coca-Cola Company (NYSE:KO) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 140,437 shares of the company’s stock after acquiring an additional 9,243 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Coca-Cola were worth $8,744,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new stake in shares of Coca-Cola during the third quarter worth $35,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Coca-Cola during the 3rd quarter valued at about $36,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the fourth quarter worth about $37,000. MilWealth Group LLC bought a new position in Coca-Cola in the fourth quarter worth about $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Coca-Cola in the third quarter valued at approximately $43,000. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Trading Up 1.9 %

Shares of KO opened at $71.37 on Monday. 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 Coca-Cola Company has a 1-year low of $57.93 and a 1-year high of $73.53. The stock has a market capitalization of $307.46 billion, a P/E ratio of 28.90, a P/E/G ratio of 3.79 and a beta of 0.61. The business’s 50-day moving average price is $63.71 and its 200 day moving average price is $66.41.

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 net margin of 22.59% and a return on equity of 45.37%. Analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is presently 78.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on KO. Piper Sandler cut their price target on Coca-Cola from $74.00 to $73.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, February 13th. Evercore ISI upped their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and increased their price objective for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Barclays boosted their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Two equities 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.82.

About Coca-Cola

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.