Baxter Bros Inc. Sells 3,075 Shares of The Coca-Cola Company (NYSE:KO)

Baxter Bros Inc. cut its stake in shares of The Coca-Cola Company (NYSE:KO) by 2.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 105,678 shares of the company’s stock after selling 3,075 shares during the quarter. Baxter Bros Inc.’s holdings in Coca-Cola were worth $6,580,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KO. Crowley Wealth Management Inc. bought a new stake in Coca-Cola in the fourth quarter valued at approximately $27,000. Mainstream Capital Management LLC bought a new position in Coca-Cola during the fourth quarter worth $31,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the fourth quarter valued at $37,000. MilWealth Group LLC acquired a new stake in Coca-Cola during the fourth quarter worth approximately $40,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Coca-Cola in the fourth quarter valued at approximately $43,000. Institutional investors own 70.26% of the company’s stock.

Wall Street Analysts Forecast Growth

KO has been the subject of a number of research reports. 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 report on Wednesday, January 8th. Piper Sandler upped their price target on Coca-Cola from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, UBS Group upped their target price on shares of Coca-Cola from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Two 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.24.

Insider Activity

In related news, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.50, for a total transaction of $961,317.50. Following the sale, the executive vice president now directly owns 94,676 shares of the company’s stock, valued at $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the firm’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. In the last quarter, insiders sold 313,423 shares of company stock worth $22,263,071. Insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of NYSE:KO opened at $68.97 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The firm has a market cap of $296.81 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The firm’s 50 day simple moving average is $67.15 and its 200-day simple moving average is $66.42. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) 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%. As a group, equities analysts predict 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 2.96%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

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.