The Coca-Cola Company (NYSE:KO) Holdings Reduced by PGGM Investments

PGGM Investments lessened its holdings in shares of The Coca-Cola Company (NYSE:KO) by 68.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 34,561 shares of the company’s stock after selling 74,451 shares during the quarter. PGGM Investments’ holdings in Coca-Cola were worth $2,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in KO. Mainstream Capital Management LLC bought a new stake in Coca-Cola during the 4th quarter valued at $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Coca-Cola during the fourth quarter valued at $37,000. MilWealth Group LLC acquired a new position in shares of Coca-Cola during the fourth quarter valued at $40,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Coca-Cola during the third quarter valued at about $43,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Coca-Cola in the fourth quarter worth about $43,000. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Price Performance

KO stock opened at $69.59 on Friday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The firm has a 50-day moving average of $66.03 and a two-hundred day moving average of $66.63. The firm has a market capitalization of $299.29 billion, a PE ratio of 28.17, a P/E/G ratio of 3.79 and a beta of 0.57. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued 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%. On average, analysts forecast that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The firm 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 dividend of $0.51 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.93%. Coca-Cola’s payout ratio is currently 82.59%.

Insider Activity

In other Coca-Cola news, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction 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 sale, the chief executive officer now 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 filing with the SEC, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

KO has been the topic of several research analyst reports. Wells Fargo & Company raised their target price 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. TD Cowen upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Barclays upped their target price on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Evercore ISI lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.24.

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.