Sandy Cove Advisors LLC Has $1.15 Million Holdings in The Coca-Cola Company (NYSE:KO)

Sandy Cove Advisors LLC cut its holdings in shares of The Coca-Cola Company (NYSE:KO) by 5.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 19,547 shares of the company’s stock after selling 1,022 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Coca-Cola were worth $1,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of KO. Castleview Partners LLC grew its position in Coca-Cola by 4.4% during the 1st quarter. Castleview Partners LLC now owns 3,973 shares of the company’s stock worth $246,000 after acquiring an additional 167 shares during the last quarter. Enterprise Bank & Trust Co grew its position in Coca-Cola by 3.4% during the 4th 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. Somerville Kurt F grew its position in Coca-Cola by 0.8% during the 1st quarter. Somerville Kurt F now owns 21,377 shares of the company’s stock worth $1,325,000 after acquiring an additional 172 shares during the last quarter. VitalStone Financial LLC grew its position in Coca-Cola by 46.5% during the 2nd quarter. VitalStone Financial LLC now owns 545 shares of the company’s stock worth $34,000 after acquiring an additional 173 shares during the last quarter. Finally, Wayfinding Financial LLC lifted its holdings in Coca-Cola by 1.8% during the 4th 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. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on KO. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Barclays upped their target price on Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, Citigroup increased their price target on Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Insider Transactions at Coca-Cola

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 value of $3,491,990.16. Following the completion of the transaction, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Nancy Quan sold 57,368 shares of Coca-Cola 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 completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $13,594,097.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bruno Pietracci sold 18,551 shares of Coca-Cola stock in a transaction on Monday, March 4th. The shares were sold at an average price of $59.41, for a total value of $1,102,114.91. The disclosure for this sale can be found here. Insiders sold 375,407 shares of company stock valued at $22,795,742 over the last three months. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

NYSE:KO opened at $60.65 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.13 and a quick ratio of 0.95. The business has a fifty day simple moving average of $60.03 and a two-hundred day simple moving average of $58.29. The Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.99. The company has a market capitalization of $261.47 billion, a P/E ratio of 24.42, a P/E/G ratio of 3.43 and a beta of 0.59.

Coca-Cola (NYSE:KO) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The firm had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is presently 78.23%.

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.