The Coca-Cola Company (NYSE:KO) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 3.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 266,170 shares of the company’s stock after selling 8,606 shares during the quarter. Coca-Cola accounts for about 1.4% of Marco Investment Management LLC’s investment portfolio, making the stock its 21st biggest position. Marco Investment Management LLC’s holdings in Coca-Cola were worth $16,572,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Coca-Cola by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company’s stock valued at $4,617,400,000 after acquiring an additional 11,569,920 shares during the period. FMR LLC increased its stake in shares of Coca-Cola by 13.7% during the third quarter. FMR LLC now owns 92,961,376 shares of the company’s stock valued at $6,680,205,000 after acquiring an additional 11,206,995 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Coca-Cola during the fourth quarter valued at approximately $500,192,000. Wellington Management Group LLP increased its stake 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 acquiring an additional 4,013,996 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Coca-Cola during the third quarter valued at approximately $269,382,000. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Trading Up 0.4 %

Shares of NYSE:KO opened at $70.38 on Friday. The firm has a market capitalization of $302.71 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 3.79 and a beta of 0.61. The Coca-Cola Company has a 12-month low of $57.93 and a 12-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 firm has a fifty day moving average of $65.18 and a two-hundred day moving average of $66.58.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 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, equities analysts expect that The Coca-Cola Company will post 2.96 EPS for the current fiscal 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 issued a dividend of $0.51 per share. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 annualized dividend and a dividend yield of 2.90%. Coca-Cola’s payout ratio is presently 82.59%.

Insider Transactions at Coca-Cola

In other news, insider Nikolaos Koumettis sold 54,708 shares of Coca-Cola stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total transaction of $3,882,079.68. Following the sale, the insider now directly owns 246,909 shares in the company, valued at approximately $17,520,662.64. The trade was a 18.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of Coca-Cola stock in a transaction dated 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 90 days, insiders have sold 232,646 shares of company stock worth $16,515,469. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KO shares. UBS Group raised 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. JPMorgan Chase & Co. reduced their target price on shares of Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Morgan Stanley raised their target price on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Coca-Cola in a report on Thursday, February 6th. Finally, Evercore ISI raised their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Company 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.