Allspring Global Investments Holdings LLC Lowers Stock Position in The Coca-Cola Company (NYSE:KO)

Allspring Global Investments Holdings LLC lessened its stake in shares of The Coca-Cola Company (NYSE:KO) by 34.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,513 shares of the company’s stock after selling 179,516 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Coca-Cola were worth $20,361,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of KO. Insigneo Advisory Services LLC lifted its position in shares of Coca-Cola by 12.2% during the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock worth $2,354,000 after purchasing an additional 4,527 shares in the last quarter. HF Advisory Group LLC lifted its position in shares of Coca-Cola by 7.6% during the third quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock worth $379,000 after purchasing an additional 476 shares in the last quarter. Wahed Invest LLC lifted its position in shares of Coca-Cola by 10.3% during the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock worth $3,435,000 after purchasing an additional 5,707 shares in the last quarter. Cohen Lawrence B lifted its position in shares of Coca-Cola by 2.8% during the third quarter. Cohen Lawrence B now owns 40,872 shares of the company’s stock worth $2,288,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in shares of Coca-Cola by 3.2% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 46,470 shares of the company’s stock worth $2,738,000 after purchasing an additional 1,455 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Performance

Shares of Coca-Cola stock opened at $58.28 on Friday. The firm has a market capitalization of $251.26 billion, a P/E ratio of 23.50, a P/E/G ratio of 3.35 and a beta of 0.59. The Coca-Cola Company has a 52 week low of $51.55 and a 52 week high of $64.99. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average is $60.05 and its two-hundred day moving average is $58.47.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share. Research analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 3.33%. The ex-dividend date was Thursday, March 14th. Coca-Cola’s dividend payout ratio is currently 78.23%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on KO shares. Barclays increased their price target on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Finally, Citigroup raised their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $67.18.

Insider Buying and Selling at Coca-Cola

In other news, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares in the company, valued at $8,602,980. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Beatriz R. Perez sold 52,300 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the transaction, the executive vice president now directly owns 143,383 shares in the company, valued at $8,602,980. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bruno Pietracci sold 18,551 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The disclosure for this sale can be found here. Insiders have sold 375,407 shares of company stock worth $22,795,742 over the last three months. Insiders own 0.97% of the company’s stock.

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.