Red Wave Investments LLC Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Red Wave Investments LLC trimmed its holdings in shares of The Coca-Cola Company (NYSE:KO) by 25.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,295 shares of the company’s stock after selling 1,479 shares during the period. Red Wave Investments LLC’s holdings in Coca-Cola were worth $267,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Hara Capital LLC acquired a new stake in Coca-Cola during the third quarter worth about $35,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Coca-Cola in the 3rd quarter valued at about $36,000. Retirement Wealth Solutions LLC acquired a new stake in Coca-Cola during the 4th quarter valued at approximately $37,000. MilWealth Group LLC bought a new stake in shares of Coca-Cola in the fourth quarter worth $40,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Coca-Cola in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KO. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Thursday, February 13th. UBS Group lifted their price objective on shares of Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced 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 note on Tuesday, January 28th. Finally, Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.82.

Coca-Cola Stock Up 1.9 %

Shares of NYSE:KO opened at $71.37 on Friday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. 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 $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 firm has a 50 day simple moving average of $63.71 and a 200 day simple moving average of $66.44.

Coca-Cola (NYSE:KO) last posted its quarterly 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 net margin of 22.59% and a return on equity of 45.37%. As a group, research analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The company also recently declared 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. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. Coca-Cola’s payout ratio is presently 78.54%.

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.