Blue Barn Wealth LLC Trims Stake in The Coca-Cola Company (NYSE:KO)

Blue Barn Wealth LLC decreased its position in shares of The Coca-Cola Company (NYSE:KO) by 35.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,544 shares of the company’s stock after selling 2,550 shares during the period. Blue Barn Wealth LLC’s holdings in Coca-Cola were worth $268,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on KO shares. Evercore ISI raised their price target on shares of Coca-Cola from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Barclays increased their target price on Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Citigroup upped their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, UBS Group raised their price objective on Coca-Cola from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.27.

Coca-Cola Stock Up 0.4 %

KO traded up $0.23 during trading hours on Wednesday, reaching $62.85. 10,435,454 shares of the stock traded hands, compared to its average volume of 13,879,216. The Coca-Cola Company has a fifty-two week low of $51.55 and a fifty-two week high of $64.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.86. The company has a market cap of $270.75 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 3.53 and a beta of 0.57. The firm’s fifty day simple moving average is $60.32 and its two-hundred day simple moving average is $59.30.

Coca-Cola (NYSE:KO) last issued its earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $11.01 billion. Coca-Cola had a net margin of 23.41% and a return on equity of 42.74%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 EPS. As a group, analysts forecast that The Coca-Cola Company will post 2.82 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, June 14th. Coca-Cola’s dividend payout ratio is presently 77.60%.

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 value of $1,102,114.91. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Coca-Cola news, insider Bruno Pietracci sold 18,551 shares of Coca-Cola 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 filing with the SEC, which is available at this hyperlink. Also, EVP Beatriz R. Perez sold 57,298 shares of Coca-Cola stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $61.99, for a total transaction of $3,551,903.02. Following the sale, the executive vice president now owns 167,107 shares in the company, valued at $10,358,962.93. The disclosure for this sale can be found here. Insiders have sold 380,405 shares of company stock valued at $23,209,645 over the last quarter. Insiders own 0.97% of the company’s stock.

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.