Groupama Asset Managment Lowers Stock Holdings in The Coca-Cola Company (NYSE:KO)

Groupama Asset Managment lessened its holdings in The Coca-Cola Company (NYSE:KO) by 56.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 311,163 shares of the company’s stock after selling 395,715 shares during the quarter. Groupama Asset Managment’s holdings in Coca-Cola were worth $19,301,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KO. Rice Partnership LLC raised its stake in Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after purchasing an additional 6,793 shares during the period. Fiduciary Alliance LLC grew its holdings in Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after buying an additional 8,499 shares in the last quarter. Wellington Management Group LLP raised its position 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 valued at $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. Clark & Stuart Inc purchased a new position in shares of Coca-Cola during the fourth quarter valued at about $1,582,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Coca-Cola by 222.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock worth $13,814,000 after purchasing an additional 132,701 shares during the last quarter. 70.26% of the stock is owned by institutional investors.

Coca-Cola Stock Performance

Shares of KO stock opened at $71.69 on Tuesday. The firm has a market cap of $308.50 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 3.79 and a beta of 0.57. The Coca-Cola Company has a 52-week low of $57.93 and a 52-week high of $73.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The company’s 50 day moving average is $67.95 and its 200 day moving average is $66.38.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping 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, sell-side analysts anticipate 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. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s payout ratio is presently 82.59%.

Insider Activity at Coca-Cola

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total value of $1,806,547.19. Following the completion of the sale, the chief operating officer now directly owns 52,466 shares in the company, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction dated 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. The trade was a 12.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 313,423 shares of company stock valued at $22,263,071 over the last 90 days. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of a number of recent research reports. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, January 8th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a research report on Thursday, February 6th. Evercore ISI lifted their price target on Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. UBS Group upped their price objective on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler lifted their target price on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola 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.