DT Investment Partners LLC Cuts Stake in The Coca-Cola Company (NYSE:KO)

DT Investment Partners LLC reduced its stake in The Coca-Cola Company (NYSE:KO) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 101,756 shares of the company’s stock after selling 1,240 shares during the quarter. Coca-Cola accounts for approximately 0.7% of DT Investment Partners LLC’s portfolio, making the stock its 29th largest holding. DT Investment Partners LLC’s holdings in Coca-Cola were worth $6,095,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Freedom Wealth Alliance LLC bought a new stake in shares of Coca-Cola during the fourth quarter valued at about $25,000. ZRC Wealth Management LLC increased its position in shares of Coca-Cola by 213.3% during the fourth quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the period. Fortis Capital Advisors LLC bought a new stake in shares of Coca-Cola during the fourth quarter valued at about $30,000. KB Financial Partners LLC bought a new stake in shares of Coca-Cola during the first quarter valued at about $31,000. Finally, Retirement Group LLC increased its position in shares of Coca-Cola by 51.5% during the fourth quarter. Retirement Group LLC now owns 550 shares of the company’s stock valued at $35,000 after buying an additional 187 shares during the period. 70.26% of the stock is currently owned by institutional investors.

Coca-Cola Price Performance

KO traded up $1.26 during midday trading on Friday, hitting $60.17. The stock had a trading volume of 21,207,852 shares, compared to its average volume of 11,594,415. The company has a market cap of $259.40 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 3.37 and a beta of 0.59. The business has a fifty day moving average of $59.94 and a 200 day moving average of $58.56. 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 Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.99.

Coca-Cola (NYSE:KO) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. As a group, equities analysts forecast that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Thursday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio is 78.23%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KO shares. JPMorgan Chase & Co. decreased their price objective on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday. Citigroup upped their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays upped their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.09.

Insider Activity

In other news, CEO James Quincey sold 247,188 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at $26,968,753.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at $26,968,753.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $60.87, for a total value of $3,491,990.16. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is currently owned by company 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.