Hartford Investment Management Co. Cuts Stake in The Coca-Cola Company (NYSE:KO)

Hartford Investment Management Co. cut its holdings in The Coca-Cola Company (NYSE:KOFree Report) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 262,195 shares of the company’s stock after selling 5,080 shares during the quarter. Coca-Cola accounts for approximately 0.6% of Hartford Investment Management Co.’s portfolio, making the stock its 29th largest position. Hartford Investment Management Co.’s holdings in Coca-Cola were worth $15,451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Insigneo Advisory Services LLC boosted its stake in shares of Coca-Cola by 12.2% during the third quarter. Insigneo Advisory Services LLC now owns 41,683 shares of the company’s stock valued at $2,354,000 after purchasing an additional 4,527 shares in the last quarter. HF Advisory Group LLC boosted its stake in shares of Coca-Cola by 7.6% during the third quarter. HF Advisory Group LLC now owns 6,770 shares of the company’s stock valued at $379,000 after purchasing an additional 476 shares in the last quarter. Wahed Invest LLC boosted its stake in shares of Coca-Cola by 10.3% during the third quarter. Wahed Invest LLC now owns 61,355 shares of the company’s stock valued at $3,435,000 after purchasing an additional 5,707 shares in the last quarter. Tucker Asset Management LLC lifted its position in Coca-Cola by 110.4% during the second quarter. Tucker Asset Management LLC now owns 9,052 shares of the company’s stock valued at $545,000 after acquiring an additional 4,749 shares during the last quarter. Finally, Cohen Lawrence B lifted its position in Coca-Cola by 2.8% during the third quarter. Cohen Lawrence B now owns 40,872 shares of the company’s stock valued at $2,288,000 after acquiring an additional 1,111 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KO shares. Citigroup increased their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. increased their target price on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Finally, Barclays increased their target price on shares of Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Get Our Latest Research Report on KO

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total value of $3,491,990.16. Following the sale, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the sale, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruno Pietracci sold 18,551 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders have sold a total of 375,407 shares of company stock worth $22,795,742 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 0.1 %

Shares of KO traded up $0.08 during midday trading on Wednesday, hitting $60.23. 4,845,632 shares of the stock were exchanged, compared to its average volume of 13,987,065. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.99. The stock has a fifty day simple moving average of $60.13 and a 200 day simple moving average of $58.39. The firm has a market cap of $259.66 billion, a P/E ratio of 24.34, a P/E/G ratio of 3.44 and a beta of 0.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13.

Coca-Cola (NYSE:KOGet Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same period last year, the business posted $0.45 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a $0.485 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a yield of 3.22%. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

Coca-Cola Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

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