Nicollet Investment Management Inc. Sells 1,013 Shares of The Coca-Cola Company (NYSE:KO)

Nicollet Investment Management Inc. trimmed its position in shares of The Coca-Cola Company (NYSE:KO) by 1.6% during the 4th quarter, HoldingsChannel reports. The fund owned 64,092 shares of the company’s stock after selling 1,013 shares during the quarter. Coca-Cola makes up approximately 1.4% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 25th biggest holding. Nicollet Investment Management Inc.’s holdings in Coca-Cola were worth $3,990,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Rice Partnership LLC lifted its position in Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after purchasing an additional 6,793 shares during the period. Fiduciary Alliance LLC lifted its holdings in shares of Coca-Cola by 87.7% during the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock worth $1,132,000 after acquiring an additional 8,499 shares during the period. Wellington Management Group LLP boosted its position in shares of Coca-Cola by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after acquiring an additional 4,013,996 shares in the last quarter. Clark & Stuart Inc bought a new stake in Coca-Cola in the fourth quarter valued at about $1,582,000. Finally, Wilmington Savings Fund Society FSB raised its position in 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 in the last quarter. Institutional investors own 70.26% of the company’s stock.

Insiders Place Their Bets

In related news, COO Henrique Braun sold 25,277 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the sale, the chief operating officer now owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. This trade represents a 32.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James Quincey sold 145,435 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 313,423 shares of company stock worth $22,263,071. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

KO stock opened at $71.69 on Tuesday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month 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 has a market cap of $308.50 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The business’s fifty day moving average is $67.95 and its 200-day moving average is $66.38.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. Equities research analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.85%. The ex-dividend date is Friday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio is presently 82.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KO. Barclays increased their target price on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company upped their target price on shares of Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and lifted their price target for the company from $69.00 to $75.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Two equities research 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. Based on data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

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.