The Coca-Cola Company (NYSE:KO) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. trimmed its holdings in The Coca-Cola Company (NYSE:KO) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,288 shares of the company’s stock after selling 242 shares during the quarter. Linscomb Wealth Inc.’s holdings in Coca-Cola were worth $1,574,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KO. Hara Capital LLC acquired a new stake in Coca-Cola during the 3rd quarter worth approximately $35,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Coca-Cola during the third quarter worth approximately $43,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Coca-Cola during the fourth quarter worth $37,000. MilWealth Group LLC purchased a new position in Coca-Cola in the 4th quarter valued at $40,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Coca-Cola in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Activity

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total value of $961,317.50. Following the sale, the executive vice president now owns 94,676 shares in the company, valued at $6,769,334. This trade represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,646 shares of company stock worth $16,515,469 over the last three months. 0.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

KO has been the subject of several recent analyst reports. 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 note on Wednesday, January 8th. Wells Fargo & Company raised their price objective on shares of Coca-Cola from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Evercore ISI increased their target price on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $70.00 in a research note on Thursday, December 12th. Two investment 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 company’s stock. Based on data from MarketBeat, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Price Performance

Shares of NYSE KO opened at $71.20 on Friday. 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 $306.22 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 3.79 and a beta of 0.61. The company’s 50-day moving average price is $64.53 and its 200 day moving average price is $66.53. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating 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%. As a group, research analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business 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 $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. 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. Coca-Cola’s payout ratio 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.