Wellington Shields Capital Management LLC Sells 17,849 Shares of The Coca-Cola Company (NYSE:KO)

Wellington Shields Capital Management LLC lessened its stake in The Coca-Cola Company (NYSE:KO) by 33.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,303 shares of the company’s stock after selling 17,849 shares during the period. Wellington Shields Capital Management LLC’s holdings in Coca-Cola were worth $2,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of KO. Atala Financial Inc purchased a new position in shares of Coca-Cola in the fourth quarter worth about $1,910,000. Integras Partners LLC acquired a new stake in Coca-Cola during the 4th quarter valued at approximately $406,000. Madison Investment Advisors LLC purchased a new stake in shares of Coca-Cola in the 4th quarter valued at $718,000. Impact Capital Partners LLC purchased a new position in shares of Coca-Cola during the fourth quarter worth $3,060,000. Finally, Commonwealth Equity Services LLC boosted its holdings in Coca-Cola by 0.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,719,907 shares of the company’s stock valued at $107,081,000 after purchasing an additional 9,015 shares during the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Lisa Chang sold 13,445 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the sale, the executive vice president now directly owns 94,676 shares in the company, valued at approximately $6,769,334. This trade represents a 12.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 145,435 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now owns 342,546 shares in the company, valued at $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

KO has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price 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 reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a research note on Thursday, February 6th. Jefferies Financial Group upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their target price for the company from $69.00 to $75.00 in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and raised their price target for the company from $68.00 to $70.00 in a research report on Thursday, December 12th. Finally, DZ Bank upgraded shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Coca-Cola Stock Down 0.5 %

NYSE KO opened at $69.59 on Friday. The Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. 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 business has a fifty day moving average price of $66.03 and a 200 day moving average price of $66.63. The company has a market cap of $299.29 billion, a P/E ratio of 28.17, a P/E/G ratio of 3.79 and a beta of 0.57.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Research analysts anticipate that The Coca-Cola Company will post 2.96 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, March 14th. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is currently 82.59%.

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.