SVB Wealth LLC Sells 6,020 Shares of The Coca-Cola Company (NYSE:KO)

SVB Wealth LLC lowered its stake in shares of The Coca-Cola Company (NYSE:KO) by 5.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 101,400 shares of the company’s stock after selling 6,020 shares during the period. SVB Wealth LLC’s holdings in Coca-Cola were worth $5,976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. ACT Advisors LLC. lifted its stake in shares of Coca-Cola by 3.0% in the 4th quarter. ACT Advisors LLC. now owns 13,608 shares of the company’s stock worth $802,000 after purchasing an additional 394 shares during the period. Flputnam Investment Management Co. lifted its stake in shares of Coca-Cola by 1.8% in the 4th quarter. Flputnam Investment Management Co. now owns 112,380 shares of the company’s stock worth $6,623,000 after purchasing an additional 1,994 shares during the period. Keel Point LLC lifted its stake in shares of Coca-Cola by 10.7% in the 4th quarter. Keel Point LLC now owns 17,711 shares of the company’s stock worth $1,044,000 after purchasing an additional 1,710 shares during the period. Sentry Investment Management LLC lifted its stake in shares of Coca-Cola by 35.6% in the 4th quarter. Sentry Investment Management LLC now owns 30,634 shares of the company’s stock worth $1,805,000 after purchasing an additional 8,048 shares during the period. Finally, Sippican Capital Advisors lifted its stake in shares of Coca-Cola by 25.9% in the 4th quarter. Sippican Capital Advisors now owns 6,799 shares of the company’s stock worth $401,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KO shares. Citigroup increased their target price on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. JPMorgan Chase & Co. increased their price objective on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Finally, Barclays increased their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Coca-Cola presently has an average rating of “Moderate Buy” and a consensus price target of $67.18.

Coca-Cola Trading Down 0.1 %

KO stock opened at $58.06 on Wednesday. The firm has a fifty day moving average price of $59.97 and a 200 day moving average price of $58.52. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13. The firm has a market cap of $250.31 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 3.30 and a beta of 0.59.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. Coca-Cola’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. Sell-side analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 3.34%. This is a boost from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio is presently 78.23%.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $59.41, for a total transaction of $1,102,114.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Beatriz R. Perez sold 52,300 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total transaction of $3,138,000.00. Following the completion of the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The disclosure for this sale can be found here. Insiders have sold a total of 375,407 shares of company stock worth $22,795,742 in the last three months. Corporate insiders own 0.97% of the company’s stock.

About Coca-Cola

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.