The Coca-Cola Company (NYSE:KO) Shares Sold by Kennon Green & Company LLC

Kennon Green & Company LLC lessened its holdings in The Coca-Cola Company (NYSE:KO) by 8.4% during the 4th quarter, Holdings Channel reports. The firm owned 73,460 shares of the company’s stock after selling 6,745 shares during the period. Coca-Cola makes up approximately 4.4% of Kennon Green & Company LLC’s portfolio, making the stock its 7th biggest position. Kennon Green & Company LLC’s holdings in Coca-Cola were worth $4,329,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KO. Enterprise Bank & Trust Co boosted its position in shares of Coca-Cola by 3.4% during the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after acquiring an additional 167 shares during the last quarter. Elk River Wealth Management LLC lifted its holdings in shares of Coca-Cola by 1.6% in the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after acquiring an additional 170 shares during the last quarter. KRS Capital Management LLC grew its holdings in Coca-Cola by 3.8% during the 4th quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares during the last quarter. Wayfinding Financial LLC raised its holdings in shares of Coca-Cola by 1.8% in the fourth quarter. Wayfinding Financial LLC now owns 9,734 shares of the company’s stock worth $573,000 after buying an additional 175 shares during the period. Finally, John G Ullman & Associates Inc. boosted its holdings in shares of Coca-Cola by 2.2% in the fourth quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock valued at $476,000 after purchasing an additional 175 shares during the period. Institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on KO. Citigroup boosted 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. cut their price target on Coca-Cola from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Finally, Barclays lifted their price objective on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $67.22.

Insiders Place Their Bets

In other news, CEO James Quincey sold 247,188 shares of the business’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 value of $15,063,636.72. Following the completion of the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $60.87, for a total transaction of $3,491,990.16. Following the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction dated 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 directly owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders have sold a total of 375,407 shares of company stock valued at $22,795,742 in the last quarter. Insiders own 0.97% of the company’s stock.

Coca-Cola Price Performance

Shares of KO traded up $0.09 during mid-day trading on Monday, reaching $61.83. 7,898,889 shares of the company’s stock were exchanged, compared to its average volume of 13,918,808. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29. The company has a market cap of $266.56 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 3.53 and a beta of 0.59. The company has a 50-day simple moving average of $60.12 and a two-hundred day simple moving average of $58.89. The Coca-Cola Company has a 52-week low of $51.55 and a 52-week high of $64.69.

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 the consensus estimate of $0.48 by $0.01. The business had revenue of $10.80 billion for 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 company’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. On average, sell-side analysts predict that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.14%. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. The ex-dividend date was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

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.