The Coca-Cola Company (NYSE:KO) Shares Sold by Latitude Advisors LLC

Latitude Advisors LLC cut its position in The Coca-Cola Company (NYSE:KO) by 4.1% during the fourth quarter, HoldingsChannel reports. The firm owned 6,129 shares of the company’s stock after selling 265 shares during the quarter. Latitude Advisors LLC’s holdings in Coca-Cola were worth $361,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kiley Juergens Wealth Management LLC increased its stake in Coca-Cola by 4.8% during the fourth quarter. Kiley Juergens Wealth Management LLC now owns 12,026 shares of the company’s stock valued at $709,000 after purchasing an additional 548 shares during the last quarter. Tyche Wealth Partners LLC acquired a new stake in Coca-Cola in the 4th quarter valued at about $2,891,000. Allen Capital Group LLC lifted its holdings in Coca-Cola by 12.2% in the 4th quarter. Allen Capital Group LLC now owns 4,289 shares of the company’s stock valued at $253,000 after acquiring an additional 466 shares during the last quarter. Wealth Alliance lifted its stake in Coca-Cola by 13.5% during the fourth quarter. Wealth Alliance now owns 13,405 shares of the company’s stock valued at $790,000 after buying an additional 1,590 shares in the last quarter. Finally, Octavia Wealth Advisors LLC lifted its stake in Coca-Cola by 4.3% during the fourth quarter. Octavia Wealth Advisors LLC now owns 22,831 shares of the company’s stock valued at $1,345,000 after buying an additional 944 shares in the last quarter. 70.26% of the stock is owned by hedge funds and other institutional investors.

Coca-Cola Stock Performance

Shares of NYSE:KO traded down $0.08 during midday trading on Wednesday, reaching $58.06. 11,236,839 shares of the company traded hands, compared to its average volume of 11,953,850. The firm has a market capitalization of $250.31 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 3.30 and a beta of 0.59. 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 firm’s fifty day moving average price is $59.97 and its two-hundred day moving average price is $58.52. The Coca-Cola Company has a 12 month low of $51.55 and a 12 month 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, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same quarter last year, the business posted $0.45 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts expect that The Coca-Cola Company will post 2.81 earnings per share for the current year.

Coca-Cola Increases Dividend

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at $13,594,097.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of Coca-Cola stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 223,330 shares in the company, valued at approximately $13,594,097.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Quincey sold 247,188 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now owns 442,546 shares in the company, valued at $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 over the last ninety days. 0.97% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.