River Global Investors LLP Sells 2,553 Shares of The Coca-Cola Company (NYSE:KO)

River Global Investors LLP cut its position in shares of The Coca-Cola Company (NYSE:KO) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,582 shares of the company’s stock after selling 2,553 shares during the period. River Global Investors LLP’s holdings in Coca-Cola were worth $3,688,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ZRC Wealth Management LLC boosted its position in shares of Coca-Cola by 213.3% during the 4th quarter. ZRC Wealth Management LLC now owns 470 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Coca-Cola in the 4th quarter valued at $30,000. Financial Connections Group Inc. acquired a new stake in Coca-Cola in the fourth quarter worth about $38,000. Avion Wealth raised its stake in shares of Coca-Cola by 64.8% during the fourth quarter. Avion Wealth now owns 819 shares of the company’s stock worth $48,000 after buying an additional 322 shares during the last quarter. Finally, Clear Investment Research LLC raised its position in shares of Coca-Cola by 36.1% during the 3rd quarter. Clear Investment Research LLC now owns 928 shares of the company’s stock valued at $52,000 after acquiring an additional 246 shares during the last quarter. 70.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on KO. Barclays lifted their price objective on shares of Coca-Cola from $68.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. 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 report on Wednesday, January 17th. Evercore ISI lifted their target price on Coca-Cola from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. UBS Group increased their price target on Coca-Cola from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on Coca-Cola from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.27.

Coca-Cola Stock Performance

Shares of KO traded up $0.18 during mid-day trading on Friday, reaching $62.17. The company’s stock had a trading volume of 11,628,675 shares, compared to its average volume of 13,782,690. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. The stock has a market cap of $268.03 billion, a P/E ratio of 24.87, a PEG ratio of 3.54 and a beta of 0.57. The Coca-Cola Company has a 1-year low of $51.55 and a 1-year high of $64.25. The business has a 50-day simple moving average of $60.24 and a two-hundred day simple moving average of $59.12.

Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. Coca-Cola had a return on equity of 42.74% and a net margin of 23.41%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the firm posted $0.68 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that The Coca-Cola Company will post 2.81 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.485 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.94 dividend on an annualized basis and a yield of 3.12%. Coca-Cola’s dividend payout ratio (DPR) is currently 77.60%.

Insider Buying and Selling at Coca-Cola

In related news, EVP Nancy Quan sold 57,368 shares of Coca-Cola 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 sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at approximately $13,594,097.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Nancy Quan sold 57,368 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $13,594,097.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James Quincey sold 247,188 shares of Coca-Cola stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.94, for a total transaction of $15,063,636.72. Following the completion of the sale, the chief executive officer now owns 442,546 shares of the company’s stock, valued at approximately $26,968,753.24. The disclosure for this sale can be found here. Insiders have sold a total of 323,107 shares of company stock valued at $19,657,742 in the last three months. 0.97% of the stock is currently owned by company insiders.

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.