Motley Fool Wealth Management LLC Cuts Holdings in The Coca-Cola Company (NYSE:KO)

Motley Fool Wealth Management LLC cut its holdings in The Coca-Cola Company (NYSE:KO) by 9.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 20,311 shares of the company’s stock after selling 2,057 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Coca-Cola were worth $1,261,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Engines Advisors L.L.C. boosted its position in shares of Coca-Cola by 88.6% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 10,320 shares of the company’s stock worth $643,000 after purchasing an additional 4,847 shares in the last quarter. Financial Counselors Inc. lifted its stake in shares of Coca-Cola by 0.7% in the fourth quarter. Financial Counselors Inc. now owns 308,405 shares of the company’s stock valued at $19,201,000 after purchasing an additional 2,099 shares during the period. Penobscot Investment Management Company Inc. boosted its holdings in Coca-Cola by 1.3% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 32,592 shares of the company’s stock worth $2,029,000 after buying an additional 415 shares in the last quarter. Morey & Quinn Wealth Partners LLC purchased a new position in Coca-Cola in the fourth quarter valued at about $255,000. Finally, Ipsen Advisor Group LLC acquired a new stake in shares of Coca-Cola during the 4th quarter valued at approximately $205,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Stock Performance

NYSE KO opened at $70.02 on Thursday. The business’s 50-day moving average price is $67.45 and its 200 day moving average price is $66.43. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. The company has a market capitalization of $301.32 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last released its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping 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, research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. Coca-Cola’s payout ratio is currently 82.59%.

Insider Transactions at Coca-Cola

In other news, CEO James Quincey sold 145,435 shares of the firm’s 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 transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Henrique Braun sold 25,277 shares of the business’s 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 sale, the chief operating officer now owns 52,466 shares of the company’s stock, valued at $3,749,745.02. The trade was a 32.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock worth $22,263,071 in the last ninety days. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KO. Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and upped their price target for the stock from $69.00 to $75.00 in a report on Thursday, January 30th. UBS Group upped their target price on Coca-Cola from $72.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. cut their price target on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Evercore ISI increased their price objective on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler upped their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.