The Coca-Cola Company (NYSE:KO) Shares Sold by Net Worth Advisory Group

Net Worth Advisory Group cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 12.8% in the 4th quarter, Holdings Channel reports. The fund owned 3,922 shares of the company’s stock after selling 578 shares during the quarter. Net Worth Advisory Group’s holdings in Coca-Cola were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in KO. Mainstream Capital Management LLC purchased a new position in Coca-Cola during the fourth quarter worth about $31,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola during the 4th quarter worth approximately $37,000. MilWealth Group LLC acquired a new position in Coca-Cola during the 4th quarter worth approximately $40,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Coca-Cola during the 3rd quarter worth approximately $43,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at approximately $43,000. 70.26% of the stock is owned by institutional investors and hedge funds.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $71.00 on Wednesday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The stock has a market cap of $305.37 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The business’s fifty day moving average price is $65.72 and its two-hundred day moving average price is $66.58. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is currently 82.59%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KO shares. Evercore ISI upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price target on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and upped their target price for the stock from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Wednesday, January 8th. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Activity at Coca-Cola

In related news, CEO James Quincey sold 145,435 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 288,146 shares of company stock valued at $20,456,524. Company insiders own 0.97% of the company’s stock.

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.