Dakota Wealth Management Lowers Stock Position in The Coca-Cola Company (NYSE:KO)

Dakota Wealth Management trimmed its position in The Coca-Cola Company (NYSE:KO) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 61,183 shares of the company’s stock after selling 2,737 shares during the period. Dakota Wealth Management’s holdings in Coca-Cola were worth $3,606,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cullen Investment Group LTD. purchased a new position in Coca-Cola in the fourth quarter valued at about $966,000. Waldron Private Wealth LLC lifted its stake in Coca-Cola by 1.1% in the fourth quarter. Waldron Private Wealth LLC now owns 61,808 shares of the company’s stock valued at $3,642,000 after purchasing an additional 655 shares during the last quarter. Bear Mountain Capital Inc. bought a new position in Coca-Cola during the fourth quarter valued at $55,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Coca-Cola by 19.5% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 25,581 shares of the company’s stock worth $1,507,000 after buying an additional 4,182 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC raised its stake in shares of Coca-Cola by 2.8% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 93,073 shares of the company’s stock valued at $5,485,000 after buying an additional 2,516 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Stock Down 0.2 %

Shares of NYSE:KO opened at $58.14 on Tuesday. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.99. The firm has a fifty day moving average price of $60.01 and a two-hundred day moving average price of $58.51. 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 company has a market cap of $250.65 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 3.31 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 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The firm had revenue of $10.80 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts anticipate that The Coca-Cola Company will post 2.81 EPS for the current fiscal year.

Coca-Cola Increases Dividend

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

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Nancy Quan sold 57,368 shares of the company’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 filing with the SEC, which is available through this hyperlink. Also, EVP Beatriz R. Perez sold 52,300 shares of Coca-Cola stock in a transaction 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 sale, the executive vice president now owns 143,383 shares in the company, valued at approximately $8,602,980. The disclosure for this sale can be found here. Insiders sold a total of 375,407 shares of company stock worth $22,795,742 over the last three months. Company insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

KO has been the subject of several recent research reports. Citigroup lifted 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. JPMorgan Chase & Co. boosted their price target on shares of Coca-Cola from $64.00 to $66.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Finally, Barclays raised their price objective on shares of Coca-Cola from $66.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coca-Cola has a consensus rating of “Moderate Buy” and an average price target of $67.18.

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.