The Coca-Cola Company (NYSE:KO) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP lessened its position in The Coca-Cola Company (NYSE:KO) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,591,319 shares of the company’s stock after selling 7,783 shares during the period. Coca-Cola comprises about 1.4% of Yacktman Asset Management LP’s holdings, making the stock its 26th biggest position. Yacktman Asset Management LP’s holdings in Coca-Cola were worth $152,706,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Enterprise Bank & Trust Co increased its position in Coca-Cola by 3.4% during the fourth quarter. Enterprise Bank & Trust Co now owns 5,021 shares of the company’s stock worth $296,000 after buying an additional 167 shares during the last quarter. Elk River Wealth Management LLC lifted its holdings in Coca-Cola by 1.6% in the 4th quarter. Elk River Wealth Management LLC now owns 10,838 shares of the company’s stock worth $639,000 after purchasing an additional 170 shares during the last quarter. KRS Capital Management LLC grew its holdings in Coca-Cola by 3.8% during the fourth quarter. KRS Capital Management LLC now owns 4,645 shares of the company’s stock valued at $274,000 after purchasing an additional 170 shares during the last quarter. Wayfinding Financial LLC lifted its stake in shares of Coca-Cola by 1.8% in the fourth 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 last quarter. Finally, John G Ullman & Associates Inc. grew its stake in Coca-Cola by 2.2% in the 4th quarter. John G Ullman & Associates Inc. now owns 8,081 shares of the company’s stock valued at $476,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Coca-Cola Price Performance

KO traded up $0.09 during midday trading on Friday, reaching $61.83. 5,879,901 shares of the company’s stock were exchanged, compared to its average volume of 13,929,245. The Coca-Cola Company has a one year low of $51.55 and a one year high of $64.69. The firm has a market capitalization of $266.56 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 3.52 and a beta of 0.59. The business has a 50-day simple moving average of $60.07 and a two-hundred day simple moving average of $58.76. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 1.29.

Coca-Cola (NYSE:KO) last posted its earnings results on Tuesday, February 13th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. Coca-Cola had a return on equity of 42.50% and a net margin of 23.42%. The business had revenue of $10.80 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter last year, the company earned $0.45 EPS. Coca-Cola’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that The Coca-Cola Company will post 2.81 EPS for the current year.

Coca-Cola Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.485 dividend. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, March 14th. Coca-Cola’s dividend payout ratio (DPR) is currently 78.23%.

Insider Buying and Selling at Coca-Cola

In related news, CEO James Quincey sold 247,188 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the sale, the chief executive officer now directly owns 442,546 shares in the company, valued at approximately $26,968,753.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO James Quincey sold 247,188 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.94, for a total value of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares in the company, valued at approximately $26,968,753.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Beatriz R. Perez sold 52,300 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 143,383 shares of the company’s stock, valued at $8,602,980. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 375,407 shares of company stock valued at $22,795,742. 0.97% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KO. Barclays raised their price target on Coca-Cola from $66.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Citigroup raised their price objective 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coca-Cola from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.22.

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.