The Coca-Cola Company (NYSE:KO) Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. cut its position in The Coca-Cola Company (NYSE:KO) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,818 shares of the company’s stock after selling 12,544 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Coca-Cola were worth $7,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley lifted its holdings in shares of Coca-Cola by 2.5% in the 3rd quarter. Morgan Stanley now owns 80,448,083 shares of the company’s stock valued at $4,503,484,000 after purchasing an additional 1,950,146 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Coca-Cola by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,138,970 shares of the company’s stock worth $3,501,789,000 after acquiring an additional 2,464,618 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Coca-Cola by 4.8% in the 3rd quarter. Northern Trust Corp now owns 44,913,068 shares of the company’s stock valued at $2,514,234,000 after acquiring an additional 2,040,664 shares during the period. Invesco Ltd. boosted its stake in Coca-Cola by 8.2% during the 3rd quarter. Invesco Ltd. now owns 25,845,340 shares of the company’s stock worth $1,446,822,000 after purchasing an additional 1,963,963 shares during the period. Finally, California Public Employees Retirement System increased its stake in Coca-Cola by 16.4% in the fourth quarter. California Public Employees Retirement System now owns 13,804,908 shares of the company’s stock valued at $813,523,000 after purchasing an additional 1,949,500 shares during the period. Institutional investors and hedge funds own 70.26% of the company’s stock.

Coca-Cola Price Performance

Coca-Cola stock traded up $0.30 during mid-day trading on Monday, reaching $62.04. The company had a trading volume of 13,408,636 shares, compared to its average volume of 13,989,262. The stock’s 50-day simple moving average is $60.12 and its 200-day simple moving average is $58.89. The company has a market capitalization of $267.47 billion, a P/E ratio of 24.99, a P/E/G ratio of 3.53 and a beta of 0.59. 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 Coca-Cola Company has a 1 year low of $51.55 and a 1 year high of $64.69.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. Coca-Cola’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts predict that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.485 per share. 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 3.13%. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is 78.23%.

Insiders Place Their Bets

In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $59.41, for a total transaction of $1,102,114.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Coca-Cola news, EVP Nancy Quan sold 57,368 shares of the business’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 in the company, valued at approximately $13,594,097.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Over the last quarter, insiders sold 375,407 shares of company stock worth $22,795,742. Insiders own 0.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on KO shares. JPMorgan Chase & Co. dropped 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. 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. Finally, Citigroup boosted their price target on shares of Coca-Cola from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Coca-Cola has an average rating of “Moderate Buy” and an average price target of $67.22.

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.