Nemes Rush Group LLC Sells 1,310 Shares of The Coca-Cola Company (NYSE:KO)

Nemes Rush Group LLC reduced its position in shares of The Coca-Cola Company (NYSE:KO) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,701 shares of the company’s stock after selling 1,310 shares during the quarter. Nemes Rush Group LLC’s holdings in Coca-Cola were worth $666,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new stake in shares of Coca-Cola in the 4th quarter valued at about $27,000. Mainstream Capital Management LLC bought a new stake in Coca-Cola in the fourth quarter valued at approximately $31,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Coca-Cola in the fourth quarter valued at approximately $38,000. Retirement Wealth Solutions LLC bought a new position in shares of Coca-Cola during the 4th quarter worth approximately $37,000. Finally, Hoey Investments Inc. raised its stake in Coca-Cola by 41.9% in the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after acquiring an additional 181 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on KO. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Morgan Stanley upped their price target on shares of Coca-Cola from $76.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Evercore ISI increased their price target on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Barclays boosted their price objective on Coca-Cola from $66.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group upgraded Coca-Cola from a “hold” rating to a “buy” rating and increased their target price for the stock from $69.00 to $75.00 in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.24.

Insider Buying and Selling at Coca-Cola

In related news, insider Nikolaos Koumettis sold 54,708 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $70.96, for a total value of $3,882,079.68. Following the completion of the transaction, the insider now owns 246,909 shares in the company, valued at $17,520,662.64. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction that occurred 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. Insiders have sold 313,423 shares of company stock worth $22,263,071 over the last quarter. Corporate insiders own 0.97% of the company’s stock.

Coca-Cola Trading Up 1.9 %

Shares of Coca-Cola stock opened at $71.69 on Tuesday. The firm’s 50-day moving average price is $67.95 and its two-hundred day moving average price is $66.38. The company has a market capitalization of $308.50 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 3.79 and a beta of 0.57. 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 Coca-Cola Company has a 12-month low of $57.93 and a 12-month high of $73.53.

Coca-Cola (NYSE:KO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating 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%. On average, analysts forecast that The Coca-Cola Company will post 2.96 earnings per share 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. Stockholders of record on Friday, March 14th will be paid a $0.51 dividend. This is an increase from Coca-Cola’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 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.