Richard Bernstein Advisors LLC Cuts Stock Holdings in The Coca-Cola Company (NYSE:KO)

Richard Bernstein Advisors LLC cut its stake in shares of The Coca-Cola Company (NYSE:KOFree Report) by 19.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 124,846 shares of the company’s stock after selling 30,154 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Coca-Cola were worth $6,989,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its holdings in Coca-Cola by 103,297.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 57,734,303 shares of the company’s stock worth $3,672,479,000 after buying an additional 57,678,466 shares in the last quarter. Norges Bank acquired a new position in Coca-Cola in the 4th quarter worth $2,937,315,000. Morgan Stanley lifted its holdings in Coca-Cola by 15.7% in the 4th quarter. Morgan Stanley now owns 79,101,856 shares of the company’s stock worth $5,031,669,000 after buying an additional 10,722,435 shares in the last quarter. Barclays PLC lifted its holdings in Coca-Cola by 164.7% in the 2nd quarter. Barclays PLC now owns 14,430,093 shares of the company’s stock worth $868,981,000 after buying an additional 8,979,379 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Coca-Cola by 61.4% in the 1st quarter. Capital World Investors now owns 10,764,084 shares of the company’s stock valued at $667,373,000 after purchasing an additional 4,095,881 shares in the last quarter. Institutional investors and hedge funds own 68.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KO. Barclays boosted their price objective on shares of Coca-Cola from $60.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Jefferies Financial Group began coverage on shares of Coca-Cola in a research report on Monday, November 13th. They set a “hold” rating and a $64.00 price objective for the company. Citigroup boosted their price objective on shares of Coca-Cola from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Coca-Cola from $64.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Read Our Latest Stock Report on KO

Insider Activity at Coca-Cola

In other Coca-Cola news, EVP Beatriz R. Perez sold 52,300 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.00, for a total value of $3,138,000.00. Following the transaction, the executive vice president now owns 143,383 shares in the company, valued at approximately $8,602,980. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Beatriz R. Perez sold 52,300 shares of the 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 transaction, the executive vice president now owns 143,383 shares in the company, valued at approximately $8,602,980. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Quincey sold 92,028 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $59.06, for a total transaction of $5,435,173.68. Following the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,136,766.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 391,516 shares of company stock worth $23,636,810. 1.00% of the stock is owned by corporate insiders.

Coca-Cola Price Performance

Shares of NYSE:KO traded down $0.19 during trading on Thursday, reaching $60.21. The company had a trading volume of 3,007,001 shares, compared to its average volume of 13,722,282. The firm’s fifty day moving average is $59.76 and its 200 day moving average is $58.29. The firm has a market capitalization of $259.65 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 3.42 and a beta of 0.59. The Coca-Cola Company has a twelve month low of $51.55 and a twelve month high of $64.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.95 and a current ratio of 1.13.

Coca-Cola (NYSE:KOGet Free Report) last released its earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. Coca-Cola had a net margin of 23.42% and a return on equity of 42.50%. The business had revenue of $10.80 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the business earned $0.45 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Thursday, March 14th. This is an increase from Coca-Cola’s previous quarterly dividend of $0.46. Coca-Cola’s dividend payout ratio is 74.19%.

Coca-Cola Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding KO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Coca-Cola Company (NYSE:KOFree Report).

Institutional Ownership by Quarter for Coca-Cola (NYSE:KO)

Receive News & Ratings for Coca-Cola Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coca-Cola and related companies with MarketBeat.com's FREE daily email newsletter.