Strategy Asset Managers LLC Lowers Holdings in The Coca-Cola Company (NYSE:KO)

Strategy Asset Managers LLC cut its position in shares of The Coca-Cola Company (NYSE:KO) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,060 shares of the company’s stock after selling 454 shares during the period. Strategy Asset Managers LLC’s holdings in Coca-Cola were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Rice Partnership LLC grew its holdings in Coca-Cola by 7.1% during the 4th quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock worth $6,397,000 after acquiring an additional 6,793 shares in the last quarter. Fiduciary Alliance LLC boosted its stake in shares of Coca-Cola by 87.7% during the fourth quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,499 shares in the last quarter. Wellington Management Group LLP increased its holdings in 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 buying an additional 4,013,996 shares during the period. Clark & Stuart Inc bought a new position in Coca-Cola in the fourth quarter worth approximately $1,582,000. Finally, Wilmington Savings Fund Society FSB boosted its position in Coca-Cola by 222.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock valued at $13,814,000 after acquiring an additional 132,701 shares in the last quarter. 70.26% of the stock is currently owned by hedge funds and other institutional investors.

Coca-Cola Price Performance

Shares of NYSE:KO opened at $70.36 on Friday. The Coca-Cola Company has a twelve month low of $57.93 and a twelve month high of $73.53. 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 company has a market cap of $302.80 billion, a PE ratio of 28.49, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company’s 50 day moving average is $67.77 and its 200 day moving average is $66.41.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Coca-Cola had a return on equity of 45.37% and a net margin of 22.59%. On average, sell-side analysts forecast that The Coca-Cola Company will post 2.96 EPS for the current year.

Coca-Cola Increases Dividend

The company 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. This is a boost from Coca-Cola’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.90%. Coca-Cola’s dividend payout ratio (DPR) is presently 82.59%.

Wall Street Analyst Weigh In

KO has been the subject of a number of analyst reports. DZ Bank upgraded Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, February 13th. Barclays raised their price target on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Evercore ISI increased their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their price target 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Coca-Cola in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Insider Activity

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total value of $961,317.50. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders sold a total of 313,423 shares of company stock valued at $22,263,071 in the last three months. 0.97% of the stock is currently owned by corporate insiders.

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.