The Coca-Cola Company (NYSE:KO) Shares Sold by Weik Capital Management

Weik Capital Management decreased its stake in The Coca-Cola Company (NYSE:KO) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,745 shares of the company’s stock after selling 615 shares during the period. Coca-Cola makes up 1.5% of Weik Capital Management’s investment portfolio, making the stock its 18th largest holding. Weik Capital Management’s holdings in Coca-Cola were worth $3,782,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in KO. Norges Bank acquired a new stake in Coca-Cola in the fourth quarter valued at $3,402,151,000. Caisse Des Depots ET Consignations acquired a new stake in Coca-Cola in the 4th quarter valued at about $10,388,000. Howe & Rusling Inc. increased its holdings in Coca-Cola by 1.6% during the 4th quarter. Howe & Rusling Inc. now owns 179,748 shares of the company’s stock valued at $11,191,000 after acquiring an additional 2,793 shares in the last quarter. AssuredPartners Investment Advisors LLC acquired a new position in Coca-Cola during the fourth quarter worth about $501,000. Finally, NEOS Investment Management LLC lifted its holdings in shares of Coca-Cola by 15.0% in the fourth quarter. NEOS Investment Management LLC now owns 210,504 shares of the company’s stock valued at $13,106,000 after purchasing an additional 27,535 shares in the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KO. 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 report on Thursday, February 13th. Morgan Stanley boosted their price target on Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price objective on Coca-Cola from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Coca-Cola in a research note on Thursday, February 6th. Finally, Jefferies Financial Group raised shares of Coca-Cola from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.00 to $75.00 in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Coca-Cola presently has a consensus rating of “Moderate Buy” and an average price target of $74.24.

Coca-Cola Trading Up 1.1 %

NYSE KO opened at $70.80 on Friday. The firm has a market capitalization of $304.70 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 3.79 and a beta of 0.57. 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 Coca-Cola Company has a one year low of $57.93 and a one year high of $73.53. The company’s 50 day moving average price is $67.62 and its 200 day moving average price is $66.46.

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

Coca-Cola Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, March 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.88%. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insider Buying and Selling

In other Coca-Cola news, COO Henrique Braun sold 25,277 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total value of $1,806,547.19. Following the transaction, the chief operating officer now owns 52,466 shares in the company, valued at $3,749,745.02. The trade was a 32.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bruno Pietracci sold 19,058 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 313,423 shares of company stock valued at $22,263,071. Corporate insiders own 0.97% of the company’s stock.

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.