Mindset Wealth Management LLC Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Mindset Wealth Management LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,747 shares of the company’s stock after selling 570 shares during the quarter. Mindset Wealth Management LLC’s holdings in Coca-Cola were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of KO. Charles Schwab Investment Management Inc. grew its stake in shares of Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock worth $4,617,400,000 after purchasing an additional 11,569,920 shares in the last quarter. FMR LLC grew its stake in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock worth $6,680,205,000 after purchasing an additional 11,206,995 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Coca-Cola during the fourth quarter worth $500,192,000. Wellington Management Group LLP grew its stake 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 worth $2,271,885,000 after purchasing an additional 4,013,996 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Coca-Cola by 3.3% during the third quarter. Geode Capital Management LLC now owns 92,957,028 shares of the company’s stock worth $6,664,005,000 after purchasing an additional 2,966,964 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 145,435 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares of the company’s stock, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nikolaos Koumettis sold 55,500 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $71.01, for a total value of $3,941,055.00. Following the completion of the transaction, the insider now owns 246,909 shares of the company’s stock, valued at $17,533,008.09. This trade represents a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on KO. JPMorgan Chase & Co. decreased their price objective 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. Morgan Stanley upped their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. UBS Group upped 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. Wells Fargo & Company upped their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler upped their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

Coca-Cola Trading Up 0.5 %

Shares of Coca-Cola stock opened at $69.63 on Friday. The Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53. 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 stock has a market cap of $299.47 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company has a 50-day moving average of $66.85 and a two-hundred day moving average of $66.55.

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, beating 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%. On average, research analysts anticipate that The Coca-Cola Company will post 2.96 EPS 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. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. 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.